AbbVie Inc. (NYSE:ABBV – Get Free Report) was up 1.3% during trading on Tuesday . The company traded as high as $262.27 and last traded at $259.87. Approximately 3,804,536 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 6,734,232 shares. The stock had previously closed at $256.42.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on ABBV shares. Royal Bank Of Canada boosted their target price on AbbVie from $260.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Bank of America boosted their price objective on shares of AbbVie from $234.00 to $276.00 and gave the company a “buy” rating in a report on Friday, July 10th. Wells Fargo & Company increased their target price on shares of AbbVie from $295.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Evercore set a $235.00 price target on shares of AbbVie in a report on Friday, May 15th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of AbbVie in a research note on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $275.95.
Read Our Latest Research Report on ABBV
AbbVie Stock Up 1.3%
AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. During the same period in the previous year, the business earned $2.97 EPS. The company’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. Analysts anticipate that AbbVie Inc. will post 14.05 EPS for the current year.
AbbVie Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Wednesday, July 15th were given a dividend of $1.73 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $6.92 annualized dividend and a yield of 2.7%. AbbVie’s dividend payout ratio is 195.48%.
Insiders Place Their Bets
In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president owned 74,430 shares of the company’s stock, valued at $18,607,500. The trade was a 30.53% decrease in their position. The transaction 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
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Litman Gregory Wealth Management LLC acquired a new stake in AbbVie in the 4th quarter valued at about $28,000. Imprint Wealth LLC increased its position in AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after buying an additional 45 shares during the last quarter. Burk Holdings LLC bought a new stake in AbbVie in the second quarter valued at approximately $30,000. Legacy Wealth Managment LLC ID lifted its position in shares of AbbVie by 115.9% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock valued at $31,000 after buying an additional 73 shares during the last quarter. Finally, IFC & Insurance Marketing Inc. bought a new position in shares of AbbVie during the 4th quarter worth approximately $31,000. 70.23% of the stock is owned by 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.
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