AbbVie (NYSE:ABBV) Trading 6.3% Higher – Still a Buy?

AbbVie Inc. (NYSE:ABBV)’s stock price shot up 6.3% on Monday . The stock traded as high as $232.32 and last traded at $230.10. 9,701,473 shares changed hands during mid-day trading, an increase of 44% from the average session volume of 6,755,820 shares. The stock had previously closed at $216.49.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s proposed $10.9 billion purchase of Apogee Therapeutics is seen as a major pipeline boost, giving the company deeper exposure to immunology and atopic dermatitis markets. Apogee Therapeutics Investor Alert
• Positive Sentiment: AbbVie received European Commission approval for Skyrizi in pediatric plaque psoriasis, expanding the drug’s addressable market and reinforcing confidence in one of the company’s key growth brands. AbbVie Gets EU Nod for Skyrizi in Pediatric Plaque Psoriasis
• Positive Sentiment: The European Commission also approved Maviret for acute hepatitis C, extending AbbVie’s only EU-approved therapy for both acute and chronic HCV infection and adding another regulatory win. AbbVie Announces European Commission Approval of MAVIRET
• Positive Sentiment: Allergan Aesthetics, an AbbVie company, announced a new class for its BOTOX Cosmetic Confidence Collective, highlighting continued brand activity in aesthetics. BOTOX Cosmetic Introduces The Confidence Collective’s Entrepreneur Class of 2026

Analyst Ratings Changes

A number of analysts have recently commented on ABBV shares. Evercore set a $235.00 price target on AbbVie in a research note on Friday, May 15th. BMO Capital Markets restated an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Wells Fargo & Company set a $260.00 target price on shares of AbbVie in a research note on Monday. William Blair reiterated an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Finally, DZ Bank raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $253.81.

AbbVie Stock Performance

The firm’s fifty day simple moving average is $213.07 and its 200 day simple moving average is $218.79. The stock has a market capitalization of $414.83 billion, a price-to-earnings ratio of 115.66, a P/E/G ratio of 0.70 and a beta of 0.32.

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, topping the consensus estimate of $2.59 by $0.06. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The firm’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.46 earnings per share. Analysts forecast that AbbVie Inc. will post 14.3 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders 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 2.9%. The ex-dividend date is Wednesday, July 15th. AbbVie’s payout ratio is 340.89%.

Institutional Investors Weigh In On AbbVie

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC grew its position in AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares in the last quarter. Schnieders Capital Management LLC. increased its stake in AbbVie by 5.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock valued at $3,056,000 after buying an additional 789 shares during the last quarter. Ieq Capital LLC lifted its position in AbbVie by 4.6% during the 2nd quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock worth $22,281,000 after buying an additional 5,274 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its position in AbbVie by 117.3% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock worth $210,685,000 after buying an additional 612,702 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

About AbbVie

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.