AbbVie (NYSE:ABBV) Stock Price Down 2.5% – Here’s What Happened

AbbVie Inc. (NYSE:ABBV) shares dropped 2.5% during trading on Monday . The stock traded as low as $244.44 and last traded at $244.6180. 7,287,556 shares were traded during trading, an increase of 3% from the average daily volume of 7,042,114 shares. The stock had previously closed at $250.94.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Analyst sentiment improved: Erste Group Bank upgraded AbbVie from “hold” to “buy,” while Cantor Fitzgerald raised its price target to $285. Wall Street’s generally bullish view could support demand for the stock. Cantor Fitzgerald Boosts AbbVie Price Target
• Positive Sentiment: Strong quarterly performance: AbbVie’s second-quarter revenue rose 10.2% year over year to $16.99 billion, exceeding consensus estimates, while adjusted EPS of $3.65 topped expectations. Growth in immunology and neuroscience is helping offset concerns about the company’s evolving product mix. AbbVie Q2 Deep Dive
• Positive Sentiment: BOTOX Cosmetic expansion: The FDA accepted AbbVie’s supplemental application for review seeking approval of BOTOX Cosmetic for masseter muscle prominence. Approval would make it the first neurotoxin approved in the U.S. for this aesthetic use, broadening Allergan Aesthetics’ growth opportunity. AbbVie Wins FDA Review for BOTOX Cosmetic
• Positive Sentiment: International market access: Canada’s drug agency recommended conditional public reimbursement for UBRELVY in adults treating acute migraine, potentially supporting broader adoption of the therapy. UBRELVY Canadian Reimbursement Recommendation
• Neutral Sentiment: AbbVie’s licensing deal with RemeGen and the reported Apogee Therapeutics buyout activity reinforce the company’s strategy of expanding its drug pipeline, though the financial impact and integration benefits will take time to develop. RemeGen Licensing Deal
• Negative Sentiment: Valuation remains a risk: AbbVie trades at a high trailing P/E, and one valuation model projects a price materially below current levels. Investors may therefore remain sensitive to execution, guidance and acquisition costs despite the positive growth outlook. AbbVie Year-End Price Prediction

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ABBV shares. Piper Sandler reiterated an “overweight” rating and issued a $298.00 price target on shares of AbbVie in a research note on Tuesday, June 23rd. BMO Capital Markets lifted their target price on shares of AbbVie from $258.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Barclays boosted their target price on shares of AbbVie from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Royal Bank Of Canada raised their price target on AbbVie from $260.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. Finally, Citigroup lifted their price objective on AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $272.76.

AbbVie Stock Up 0.9%

The stock has a market cap of $434.59 billion, a P/E ratio of 69.49, a P/E/G ratio of 0.81 and a beta of 0.30. The firm has a 50 day moving average price of $240.29 and a 200 day moving average price of $224.41.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.04. AbbVie had a net margin of 9.80% and a negative return on equity of 466.39%. The company had revenue of $16.99 billion during the quarter, compared to analyst estimates of $16.80 billion. During the same period in the prior year, the firm posted $2.97 EPS. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Equities analysts predict that AbbVie Inc. will post 14.08 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be issued a $1.73 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 annualized dividend and a yield of 2.8%. AbbVie’s dividend payout ratio is currently 195.48%.

Hedge Funds Weigh In On AbbVie

Several large investors have recently made changes to their positions in the business. Gryphon Financial Partners LLC grew its position in shares of AbbVie by 0.8% during the second quarter. Gryphon Financial Partners LLC now owns 91,741 shares of the company’s stock worth $23,086,000 after purchasing an additional 699 shares in the last quarter. KBC Group NV boosted its stake in AbbVie by 0.5% in the 2nd quarter. KBC Group NV now owns 672,932 shares of the company’s stock worth $169,336,000 after purchasing an additional 3,285 shares during the period. Souders Financial Advisors grew its holdings in AbbVie by 3.4% during the 2nd quarter. Souders Financial Advisors now owns 8,246 shares of the company’s stock valued at $2,075,000 after buying an additional 268 shares in the last quarter. Weinberger Asset Management Inc bought a new stake in shares of AbbVie during the second quarter valued at approximately $215,000. Finally, LiftPoint Family Wealth Advisors LLC raised its position in shares of AbbVie by 11.6% during the second quarter. LiftPoint Family Wealth Advisors LLC now owns 2,129 shares of the company’s stock valued at $536,000 after buying an additional 221 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

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.