AbbVie (NYSE:ABBV) Price Target Raised to $290.00

AbbVie (NYSE:ABBV) had its target price increased by Cantor Fitzgerald from $285.00 to $290.00 in a report issued on Thursday morning, Marketbeat.com reports. Cantor Fitzgerald currently has an overweight rating on the stock.

A number of other analysts have also recently issued reports on ABBV. Piper Sandler raised their price objective on AbbVie from $298.00 to $303.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. Morgan Stanley boosted their target price on AbbVie from $296.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday. BNP Paribas Exane increased their price target on AbbVie from $218.00 to $247.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada raised their price target on AbbVie from $260.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, July 10th. Finally, Bank of America reaffirmed a “buy” rating on shares of AbbVie in a research report on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.18.

AbbVie Price Performance

AbbVie stock opened at $276.24 on Thursday. The firm has a market capitalization of $488.06 billion, a PE ratio of 78.03, a P/E/G ratio of 1.26 and a beta of 0.24. The company’s 50-day moving average is $259.06 and its 200-day moving average is $236.63. AbbVie has a fifty-two week low of $190.75 and a fifty-two week high of $277.60.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.04. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The business had revenue of $16.99 billion during the quarter, compared to the consensus estimate of $16.80 billion. During the same period last year, the business posted $2.97 EPS. AbbVie’s revenue was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, analysts expect that AbbVie will post 13.94 EPS for the current year.

AbbVie Dividend Announcement

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

Insider Activity

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the sale, the executive vice president directly owned 74,430 shares of the company’s stock, valued at approximately $18,607,500. This represents a 30.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp increased its holdings in AbbVie by 1.7% in the 2nd quarter. State Street Corp now owns 82,596,748 shares of the company’s stock valued at $20,784,646,000 after buying an additional 1,379,232 shares during the period. Corient Private Wealth LP acquired a new position in shares of AbbVie in the 2nd quarter valued at approximately $559,736,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of AbbVie by 0.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,267,697 shares of the company’s stock worth $3,590,323,000 after acquiring an additional 106,091 shares during the period. Legal & General Group Plc bought a new stake in shares of AbbVie during the 2nd quarter worth approximately $2,905,952,000. Finally, Deutsche Bank AG boosted its position in shares of AbbVie by 13.0% during the 2nd quarter. Deutsche Bank AG now owns 10,772,949 shares of the company’s stock worth $2,710,905,000 after acquiring an additional 1,241,587 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

More 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

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.