AbbVie (NYSE:ABBV) Stock Jumps 1.2% – Still a Buy?

Shares of AbbVie Inc. (NYSE:ABBV) were up 1.2% during mid-day trading on Monday. The company traded as high as $267.34 and last traded at $265.9260. 7,495,570 shares changed hands during mid-day trading, an increase of 16% from the average daily volume of 6,440,094 shares. The stock had previously closed at $262.82.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ABBV shares. Weiss Ratings raised shares of AbbVie from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. raised their price target on shares of AbbVie from $280.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Piper Sandler raised their target price on AbbVie from $298.00 to $303.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Wells Fargo & Company lifted their target price on AbbVie from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. Finally, Barclays upped their price target on AbbVie from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $272.39.

AbbVie Stock Performance

The firm has a market cap of $469.84 billion, a PE ratio of 75.12, a P/E/G ratio of 1.19 and a beta of 0.24. The firm’s 50-day moving average price is $257.87 and its two-hundred day moving average price is $234.68.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping the consensus estimate of $3.61 by $0.04. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The company had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. During the same quarter in the previous year, the company posted $2.97 earnings per share. The firm’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. As a group, sell-side analysts predict that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders 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 yield of 2.6%. AbbVie’s dividend payout ratio is currently 195.48%.

Insider Buying and Selling at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the 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 completion of the sale, the executive vice president directly owned 74,430 shares of the company’s stock, valued at $18,607,500. This trade represents 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 through this link. 0.06% of the stock is currently owned by corporate insiders.

Institutional Trading of AbbVie

Hedge funds have recently made changes to their positions in the company. State Street Corp lifted its holdings in AbbVie by 1.7% in the second quarter. State Street Corp now owns 82,596,748 shares of the company’s stock valued at $20,784,646,000 after acquiring an additional 1,379,232 shares during the period. Capital Research Global Investors grew its stake in shares of AbbVie by 0.7% during the 4th quarter. Capital Research Global Investors now owns 25,408,200 shares of the company’s stock worth $5,805,530,000 after purchasing an additional 177,370 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of AbbVie by 0.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,267,697 shares of the company’s stock valued at $3,590,323,000 after purchasing an additional 106,091 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of AbbVie by 2.3% in the 4th quarter. Franklin Resources Inc. now owns 14,881,504 shares of the company’s stock valued at $3,400,274,000 after purchasing an additional 330,104 shares in the last quarter. Finally, Capital World Investors lifted its stake in shares of AbbVie by 106.3% in the fourth quarter. Capital World Investors now owns 13,071,444 shares of the company’s stock valued at $2,986,777,000 after purchasing an additional 6,736,161 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Company Profile

AbbVie Inc is a global biopharmaceutical company that develops, manufactures and markets medicines for a range of serious and chronic health conditions. Its portfolio spans immunology, oncology, neuroscience, eye care, aesthetics, gastroenterology and women’s health.

The company’s products include the immunology medicines Skyrizi and Rinvoq; neuroscience treatments such as Vraylar, Ubrelvy and Qulipta; and oncology medicines including Imbruvica and Venclexta. AbbVie also markets Botox Cosmetic and Botox Therapeutic, as well as other products for aesthetics, eye care and specialty care.

AbbVie was established in 2013 as an independent, publicly traded company following its separation from Abbott Laboratories.