AbbVie (NYSE:ABBV) Trading Up 1.8% – Here’s What Happened

Shares of AbbVie Inc. (NYSE:ABBV) shot up 1.8% on Monday . The stock traded as high as $264.65 and last traded at $261.68. Approximately 4,448,936 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 6,622,147 shares. The stock had previously closed at $257.12.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ABBV shares. Royal Bank Of Canada increased their target price on shares of AbbVie from $260.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Guggenheim upped their price target on shares of AbbVie from $261.00 to $288.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 5th. Wells Fargo & Company boosted their target price on AbbVie from $295.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Finally, Weiss Ratings upgraded AbbVie from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $276.64.

AbbVie Stock Performance

The company has a market capitalization of $462.33 billion, a price-to-earnings ratio of 73.92, a P/E/G ratio of 1.16 and a beta of 0.29. The stock’s fifty day simple moving average is $254.46 and its two-hundred day simple moving average is $230.95.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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 422.07%. The company had revenue of $16.99 billion for the quarter, compared to analysts’ expectations of $16.80 billion. During the same quarter in the previous year, the company posted $2.97 EPS. The business’s 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. On average, equities analysts anticipate that AbbVie Inc. will post 14.05 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be paid a dividend of $1.73 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $6.92 annualized dividend and a dividend yield of 2.6%. AbbVie’s dividend payout ratio (DPR) is currently 195.48%.

Insider Activity

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the sale, the executive vice president directly owned 74,430 shares of the company’s stock, valued at $18,607,500. The trade was a 30.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by insiders.

Institutional Investors Weigh In On AbbVie

Several hedge funds have recently made changes to their positions in ABBV. ACT Advisors LLC. grew its holdings in AbbVie by 2.5% in the 2nd quarter. ACT Advisors LLC. now owns 1,688 shares of the company’s stock worth $425,000 after buying an additional 41 shares in the last quarter. Willner & Heller LLC boosted its position in AbbVie by 0.7% during the 2nd quarter. Willner & Heller LLC now owns 5,852 shares of the company’s stock worth $1,472,000 after acquiring an additional 43 shares during the period. B.O.S.S. Retirement Advisors LLC grew its stake in shares of AbbVie by 3.1% in the second quarter. B.O.S.S. Retirement Advisors LLC now owns 1,427 shares of the company’s stock worth $359,000 after purchasing an additional 43 shares in the last quarter. Fielder Capital Group LLC increased its holdings in shares of AbbVie by 1.7% during the second quarter. Fielder Capital Group LLC now owns 2,532 shares of the company’s stock valued at $637,000 after purchasing an additional 43 shares during the period. Finally, Guardian Wealth Advisors LLC NC increased its holdings in shares of AbbVie by 0.4% during the second quarter. Guardian Wealth Advisors LLC NC now owns 11,906 shares of the company’s stock valued at $2,996,000 after purchasing an additional 43 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

About AbbVie

AbbVie Inc (NYSE: ABBV) is a global biopharmaceutical company that discovers, develops and commercializes medicines across immunology, oncology, neuroscience, eye care, aesthetics and other specialty areas. The company was established in 2013 after separating from Abbott Laboratories, which retained Abbott’s diversified medical products and diagnostics businesses while AbbVie focused on research-based pharmaceuticals.

AbbVie’s immunology portfolio includes Skyrizi (risankizumab) and Rinvoq (upadacitinib), which are used to treat several inflammatory conditions.