AbbVie (NYSE:ABBV) Shares Up 1.8% – Still a Buy?

Shares of AbbVie Inc. (NYSE:ABBV) traded up 1.8% during trading on Monday . The company traded as high as $264.65 and last traded at $261.68. 4,448,936 shares changed hands during trading, a decline of 33% from the average session volume of 6,622,147 shares. The stock had previously closed at $257.12.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. BNP Paribas Exane raised their price objective on shares of AbbVie from $218.00 to $247.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Canaccord Genuity Group increased their price target on AbbVie from $282.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. HSBC boosted their price objective on AbbVie from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday. Guggenheim raised their target price on AbbVie from $261.00 to $288.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $296.00 price target on shares of AbbVie in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $276.64.

AbbVie Trading Up 1.8%

The stock has a fifty day moving average of $254.46 and a 200-day moving average of $230.95. The firm has a market capitalization of $462.33 billion, a price-to-earnings ratio of 73.92, a PEG ratio of 1.16 and a beta of 0.29.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.04. The business had revenue of $16.99 billion during the quarter, compared to analyst estimates of $16.80 billion. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.AbbVie’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the company posted $2.97 EPS. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, equities research analysts forecast that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be issued a $1.73 dividend. This represents a $6.92 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Thursday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 195.48%.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the sale, the executive vice president owned 74,430 shares in the company, valued at $18,607,500. The trade was a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by company insiders.

Institutional Trading of AbbVie

Large investors have recently added to or reduced their stakes in the company. Ranch Capital Advisors Inc. increased its stake in AbbVie by 37.0% during the 1st quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company’s stock worth $3,238,000 after acquiring an additional 4,017 shares during the period. Capital Advisors Inc. OK lifted its position in shares of AbbVie by 11.2% during the 2nd quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company’s stock valued at $112,516,000 after acquiring an additional 45,132 shares during the period. Danica Pension Livsforsikringsaktieselskab acquired a new stake in shares of AbbVie during the 2nd quarter worth $23,557,000. Wedge Capital Management L L P NC grew its holdings in shares of AbbVie by 7.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 134,579 shares of the company’s stock worth $33,865,000 after purchasing an additional 9,380 shares in the last quarter. Finally, Mission Wealth Management LP increased its position in shares of AbbVie by 119.1% in the second quarter. Mission Wealth Management LP now owns 69,052 shares of the company’s stock worth $17,376,000 after purchasing an additional 37,531 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Company Profile

AbbVie Inc (NYSE: ABBV) is a global biopharmaceutical company that discovers, develops and commercializes medicines across immunology, oncology, neuroscience, eye care, aesthetics and other specialty areas. The company was established in 2013 after separating from Abbott Laboratories, which retained Abbott’s diversified medical products and diagnostics businesses while AbbVie focused on research-based pharmaceuticals.

AbbVie’s immunology portfolio includes Skyrizi (risankizumab) and Rinvoq (upadacitinib), which are used to treat several inflammatory conditions.