AbbVie (NYSE:ABBV) Stock Price Up 3.5% – Time to Buy?

AbbVie Inc. (NYSE:ABBV) shares shot up 3.5% during trading on Tuesday . The stock traded as high as $259.18 and last traded at $259.0150. Approximately 4,857,377 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 6,879,876 shares. The stock had previously closed at $250.33.

Wall Street Analyst Weigh In

ABBV has been the topic of several analyst reports. Citigroup lifted their target price on shares of AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. UBS Group raised their price objective on shares of AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Weiss Ratings raised shares of AbbVie from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 4th. Wells Fargo & Company lifted their price objective on shares of AbbVie from $295.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Bank of America boosted their target price on shares of AbbVie from $234.00 to $276.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $275.95.

AbbVie Trading Down 0.2%

The business has a fifty day moving average price of $246.98 and a two-hundred day moving average price of $226.95. The company has a market cap of $469.18 billion, a price-to-earnings ratio of 74.92, a P/E/G ratio of 0.86 and a beta of 0.30.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping the consensus estimate of $3.61 by $0.04. The business had revenue of $16.99 billion during the quarter, compared to analysts’ expectations of $16.80 billion. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, analysts anticipate that AbbVie Inc. will post 14.07 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th were issued a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Wednesday, July 15th. AbbVie’s payout ratio is currently 195.48%.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the company’s stock in a transaction on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Litman Gregory Wealth Management LLC acquired a new position in AbbVie in the fourth quarter worth approximately $28,000. Imprint Wealth LLC lifted its stake in AbbVie by 56.2% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after acquiring an additional 45 shares during the last quarter. Burk Holdings LLC bought a new stake in AbbVie in the second quarter worth approximately $30,000. Legacy Wealth Managment LLC ID grew its position in AbbVie by 115.9% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after acquiring an additional 73 shares in the last quarter. Finally, IFC & Insurance Marketing Inc. acquired a new position in shares of AbbVie during the 4th quarter worth $31,000. Hedge funds and other 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.