AbbVie (NYSE:ABBV) Shares Up 3.5% – Time to Buy?

Shares of AbbVie Inc. (NYSE:ABBV) traded up 3.5% during mid-day trading on Tuesday . The stock traded as high as $259.18 and last traded at $259.0150. Approximately 4,857,377 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 6,879,876 shares. The stock had previously closed at $250.33.

Analysts Set New Price Targets

ABBV has been the subject of a number of research analyst reports. Bank of America lifted their target price on AbbVie from $234.00 to $276.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Evercore set a $235.00 price objective on AbbVie in a research report on Friday, May 15th. JPMorgan Chase & Co. lifted their price objective on AbbVie from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Barclays boosted their target price on AbbVie from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings upgraded shares of AbbVie from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 4th. Two research 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $275.73.

AbbVie Trading Up 3.5%

The business’s 50 day simple moving average is $245.49 and its two-hundred day simple moving average is $226.35. The firm has a market capitalization of $457.63 billion, a PE ratio of 73.17, a price-to-earnings-growth ratio of 0.83 and a beta of 0.30.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.04. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The firm had revenue of $16.99 billion for the quarter, compared to the consensus estimate of $16.80 billion. During the same period last year, the business posted $2.97 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, equities research analysts anticipate that AbbVie Inc. will post 14.07 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th were given a $1.73 dividend. This represents a $6.92 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 195.48%.

Institutional Investors Weigh In On AbbVie

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