AbbVie (NYSE:ABBV) Stock Price Up 1.4% on Analyst Upgrade

AbbVie Inc. (NYSE:ABBV) shares were up 1.4% during mid-day trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $285.00 to $300.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. AbbVie traded as high as $277.60 and last traded at $276.2410. 4,262,959 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 6,418,698 shares. The stock had previously closed at $272.42.

A number of other research firms have also issued reports on ABBV. Scotiabank boosted their price objective on AbbVie from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Tuesday. UBS Group raised their target price on AbbVie from $260.00 to $275.00 and gave the company a “neutral” rating in a research note on Tuesday. Oppenheimer boosted their price target on shares of AbbVie from $244.00 to $258.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Barclays upped their price target on shares of AbbVie from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Finally, BMO Capital Markets increased their price objective on shares of AbbVie from $258.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $277.18.

Insider Buying and Selling at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $250.00, for a total value of $8,177,500.00. Following the completion of the sale, the executive vice president owned 74,430 shares of the company’s stock, valued at $18,607,500. This represents a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: FDA breakthrough designations strengthen AbbVie’s oncology pipeline. The FDA granted two Breakthrough Therapy designations to Temab-A (telisotuzumab adizutecan) for colorectal cancer and non-small cell lung cancer. The designation can accelerate development and regulatory review, although it does not guarantee approval or commercial success. AbbVie’s Temab-A Gets Two FDA Breakthrough Therapy Tags in Cancer
• Positive Sentiment: Analysts raised their valuation targets. JPMorgan increased its target to $300 and maintained an overweight rating, while Cantor Fitzgerald lifted its target to $290 and Guggenheim reaffirmed a buy rating with a $288 target. These actions suggest analysts see additional upside from AbbVie’s growth products and pipeline. Cantor Fitzgerald Lifts Price Targets on Four Pharma Giants
• Positive Sentiment: New products are more than offsetting Humira’s patent-loss decline. Humira revenue fell 35.9% to $756 million, but total quarterly revenue rose 10.2% to $16.99 billion. The performance indicates that immunology, neuroscience and other newer medicines are successfully replacing the former blockbuster. AbbVie Outgrew Humira’s Collapse
• Neutral Sentiment: Valuation and income appeal remain part of the debate. AbbVie’s dividend and defensive characteristics may attract income-focused investors, but the stock’s elevated valuation means continued earnings and pipeline execution are important to justify further gains. Treasury Bills or Dividend Stocks

Institutional Trading of AbbVie

Institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LP acquired a new stake in AbbVie during the second quarter valued at approximately $559,736,000. Legal & General Group Plc acquired a new position in AbbVie in the second quarter worth approximately $2,905,952,000. Jupiter Topco LLC bought a new position in shares of AbbVie in the second quarter valued at $1,560,354,000. Cardano Risk Management B.V. increased its holdings in shares of AbbVie by 914.6% in the fourth quarter. Cardano Risk Management B.V. now owns 5,444,930 shares of the company’s stock valued at $1,244,112,000 after buying an additional 4,908,260 shares in the last quarter. Finally, Diamant Asset Management Inc. lifted its position in shares of AbbVie by 21,649.0% during the 1st quarter. Diamant Asset Management Inc. now owns 3,671,231 shares of the company’s stock valued at $798,456,000 after acquiring an additional 3,654,351 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

The firm has a market capitalization of $488.06 billion, a P/E ratio of 78.03, a price-to-earnings-growth ratio of 1.23 and a beta of 0.24. The firm has a 50 day moving average price of $258.56 and a two-hundred day moving average price of $236.35.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.04. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The company had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. During the same period in the previous year, the firm earned $2.97 earnings per share. AbbVie’s revenue for the quarter was up 10.2% compared to the same quarter last year. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Equities research analysts forecast that AbbVie Inc. will post 14.01 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be paid a dividend of $1.73 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $6.92 dividend on an annualized basis and a yield of 2.5%. AbbVie’s dividend payout ratio is currently 195.48%.

AbbVie Company Profile

AbbVie Inc is a global biopharmaceutical company that develops, manufactures and markets medicines for a range of serious and chronic health conditions. Its portfolio spans immunology, oncology, neuroscience, eye care, aesthetics, gastroenterology and women’s health.

The company’s products include the immunology medicines Skyrizi and Rinvoq; neuroscience treatments such as Vraylar, Ubrelvy and Qulipta; and oncology medicines including Imbruvica and Venclexta. AbbVie also markets Botox Cosmetic and Botox Therapeutic, as well as other products for aesthetics, eye care and specialty care.

AbbVie was established in 2013 as an independent, publicly traded company following its separation from Abbott Laboratories.