AbbVie (NYSE:ABBV) Trading 2.9% Higher – Here’s What Happened

Shares of AbbVie Inc. (NYSE:ABBV) rose 2.9% during mid-day trading on Friday . The company traded as high as $238.01 and last traded at $236.12. Approximately 7,984,502 shares were traded during trading, an increase of 25% from the average daily volume of 6,394,814 shares. The stock had previously closed at $229.45.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Piper Sandler restated an “overweight” rating and issued a $289.00 price target (up previously from $284.00) on shares of AbbVie in a research report on Wednesday, November 5th. Morgan Stanley increased their target price on AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Erste Group Bank downgraded AbbVie from a “buy” rating to a “hold” rating in a report on Tuesday, October 14th. Evercore ISI increased their price objective on AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Finally, Hsbc Global Res cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $240.14.

AbbVie Stock Performance

The firm has a 50-day simple moving average of $226.46 and a two-hundred day simple moving average of $204.95. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The company has a market capitalization of $417.31 billion, a price-to-earnings ratio of 112.44, a price-to-earnings-growth ratio of 1.42 and a beta of 0.50.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, October 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.09. The business had revenue of $15.78 billion during the quarter, compared to analyst estimates of $15.58 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.00 EPS. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. As a group, sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Friday, January 16th will be issued a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a yield of 2.9%. This is an increase from AbbVie’s previous quarterly dividend of $1.64. The ex-dividend date is Friday, January 16th. AbbVie’s dividend payout ratio is 524.24%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Marshall & Sullivan Inc. WA acquired a new position in AbbVie during the second quarter valued at approximately $25,000. Evolution Wealth Management Inc. bought a new stake in shares of AbbVie during the 2nd quarter worth $26,000. TD Capital Management LLC boosted its holdings in shares of AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after buying an additional 58 shares during the period. Spurstone Advisory Services LLC bought a new stake in shares of AbbVie during the 2nd quarter worth $28,000. Finally, Texas Capital Bancshares Inc TX bought a new position in AbbVie in the 3rd quarter worth $31,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.