AbbVie (NYSE:ABBV) Shares Down 1.1% – Here’s Why

AbbVie Inc. (NYSE:ABBV)’s share price traded down 1.1% on Tuesday . The stock traded as low as $250.10 and last traded at $251.45. 6,849,466 shares were traded during trading, a decline of 5% from the average session volume of 7,211,684 shares. The stock had previously closed at $254.31.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie and Genmab reported that the Phase 3 EPCORE DLBCL-4 trial for epcoritamab plus lenalidomide in relapsed/refractory diffuse large B-cell lymphoma met its primary endpoint, with statistically significant improvement in progression-free survival. That supports a potential label expansion and strengthens confidence in AbbVie’s oncology pipeline. Article Title
• Positive Sentiment: AbbVie received positive CHMP opinions in Europe for Rinvoq in severe alopecia areata and non-segmental vitiligo, expanding the drug’s potential reach in autoimmune and dermatology markets. These decisions could add future sales upside if finalized by the European Commission. Article Title
• Positive Sentiment: The company also got a boost from a reported $1.2 billion in additional potential milestone payments tied to its alliance with Nxera Pharma, underscoring the value of AbbVie’s partnered pipeline. Article Title
• Neutral Sentiment: Some coverage noted AbbVie is drawing increased investor attention and that analysts have nudged forward earnings expectations, which may be helping sentiment but does not by itself change the company’s near-term fundamentals. Article Title
• Negative Sentiment: AbbVie is facing a US House committee investigation over clinical trials conducted in China, with lawmakers examining national security, due diligence and data-protection concerns. That introduces headline risk and could weigh on the stock if scrutiny escalates. Article Title

Analysts Set New Price Targets

Several research firms recently issued reports on ABBV. Wall Street Zen raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Morgan Stanley upped their price objective on AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Guggenheim reissued a “buy” rating and issued a $249.00 target price on shares of AbbVie in a report on Friday, May 1st. Canaccord Genuity Group raised their target price on AbbVie from $265.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Finally, William Blair reaffirmed an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $253.81.

AbbVie Stock Performance

The firm has a market capitalization of $444.26 billion, a P/E ratio of 123.87, a price-to-earnings-growth ratio of 0.77 and a beta of 0.32. The stock has a 50-day moving average of $216.06 and a 200 day moving average of $219.38.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.06. The firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.46 EPS. On average, equities analysts predict that AbbVie Inc. will post 14.28 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be issued a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s payout ratio is currently 340.89%.

Institutional Investors Weigh In On AbbVie

A number of hedge funds have recently added to or reduced their stakes in ABBV. Vanguard Group Inc. raised its stake in shares of AbbVie by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock worth $41,306,353,000 after acquiring an additional 3,032,438 shares during the last quarter. State Street Corp grew its stake in shares of AbbVie by 1.4% during the fourth quarter. State Street Corp now owns 80,940,931 shares of the company’s stock valued at $18,494,193,000 after purchasing an additional 1,119,274 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of AbbVie by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock valued at $10,179,099,000 after purchasing an additional 4,190,487 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of AbbVie by 1.4% in the fourth quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock valued at $5,900,617,000 after purchasing an additional 356,394 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $5,865,055,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Company Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.