AbbVie (NYSE:ABBV) Stock Price Down 2.4% – Here’s What Happened

AbbVie Inc. (NYSE:ABBV)’s stock price fell 2.4% on Monday . The company traded as low as $253.60 and last traded at $254.77. Approximately 6,875,470 shares changed hands during mid-day trading, a decline of 5% from the average daily volume of 7,206,849 shares. The stock had previously closed at $261.07.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: The European Commission approved AbbVie’s Tepkinly combination for relapsed or refractory follicular lymphoma, expanding the drug’s reach in oncology and supporting future revenue potential. EC approves AbbVie’s Tepkinly combination for follicular lymphoma
• Positive Sentiment: AbbVie also completed a first-in-human study of ABBV-277, which adds another data point to its pipeline and could help reassure investors about the company’s longer-term development efforts. AbbVie’s ABBV‑277 Trial Completion: What Early Safety Data Could Mean for Investors
• Neutral Sentiment: Analysts are looking for double-digit earnings growth when AbbVie reports second-quarter results later this month, so the upcoming print could be an important catalyst if the company beats expectations. AbbVie Earnings Preview: What to Expect
• Negative Sentiment: AbbVie’s updated 2026 EPS guidance was below consensus, and its second-quarter EPS outlook also came in under analysts’ estimates, which may be weighing on the shares despite the positive drug news. AbbVie guidance update

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ABBV shares. Wells Fargo & Company set a $260.00 price target on shares of AbbVie in a research note on Monday, June 22nd. Piper Sandler restated an “overweight” rating and set a $298.00 price objective on shares of AbbVie in a research report on Tuesday, June 23rd. HSBC restated a “buy” rating and issued a $300.00 target price on shares of AbbVie in a report on Monday. Evercore set a $235.00 target price on shares of AbbVie in a research report on Friday, May 15th. Finally, Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $256.67.

AbbVie Trading Down 0.7%

The stock has a 50 day simple moving average of $222.39 and a 200-day simple moving average of $220.69. The firm has a market capitalization of $446.96 billion, a P/E ratio of 124.62, a P/E/G ratio of 0.84 and a beta of 0.30.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.06. The firm had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.46 EPS. As a group, sell-side analysts expect that AbbVie Inc. will post 14.28 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be paid a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 340.89%.

Institutional Investors Weigh In On AbbVie

Several hedge funds and other institutional investors have recently modified their holdings of ABBV. Chelsea Counsel Co. bought a new position in shares of AbbVie in the third quarter worth about $26,000. Litman Gregory Wealth Management LLC bought a new position in shares of AbbVie during the 4th quarter valued at approximately $28,000. Imprint Wealth LLC increased its holdings in AbbVie by 56.2% in the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after acquiring an additional 45 shares in the last quarter. Westend Capital Management LLC purchased a new stake in AbbVie in the 4th quarter worth approximately $29,000. Finally, IFC & Insurance Marketing Inc. bought a new stake in AbbVie during the 4th quarter worth approximately $31,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

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.