AbbVie (NYSE:ABBV) Stock Price Up 1.2% – Still a Buy?

AbbVie Inc. (NYSE:ABBV)’s stock price shot up 1.2% during trading on Monday. The company traded as high as $267.34 and last traded at $265.9260. 7,495,570 shares changed hands during mid-day trading, an increase of 16% from the average daily volume of 6,440,094 shares. The stock had previously closed at $262.82.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Guggenheim boosted their price objective on AbbVie from $261.00 to $288.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 5th. Morgan Stanley reissued an “overweight” rating and set a $296.00 target price (up from $278.00) on shares of AbbVie in a research report on Monday, August 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $240.00 price objective (down from $250.00) on shares of AbbVie in a research note on Wednesday, September 16th. Finally, Citigroup lifted their price objective on shares of AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $272.39.

AbbVie Stock Performance

The company has a 50 day moving average of $257.87 and a two-hundred day moving average of $234.68. The stock has a market capitalization of $469.84 billion, a PE ratio of 75.12, a P/E/G ratio of 1.19 and a beta of 0.24.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.04. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The business had revenue of $16.99 billion during the quarter, compared to the consensus estimate of $16.80 billion. During the same quarter last year, the company earned $2.97 earnings per share. The company’s quarterly 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, research analysts predict that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be issued a $1.73 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.6%. AbbVie’s dividend payout ratio is currently 195.48%.

Insider Activity

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $250.00, for a total value of $8,177,500.00. Following the completion of the transaction, the executive vice president directly owned 74,430 shares in the company, valued at $18,607,500. This trade represents a 30.53% decrease in their ownership of the stock. The sale 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 insiders.

Hedge Funds Weigh In On AbbVie

A number of institutional investors have recently bought and sold shares of the business. Burk Holdings LLC purchased a new stake in AbbVie in the 2nd quarter worth $30,000. Abound Financial LLC acquired a new stake in AbbVie in the 4th quarter worth about $32,000. Merkkuri Wealth Advisors LLC purchased a new stake in AbbVie during the 1st quarter worth approximately $34,000. Marquette Asset Management LLC raised its holdings in shares of AbbVie by 52.2% during the second quarter. Marquette Asset Management LLC now owns 140 shares of the company’s stock valued at $35,000 after acquiring an additional 48 shares during the last quarter. Finally, Phillip James Consulting Co. acquired a new stake in shares of AbbVie in the fourth quarter worth approximately $36,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

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.