AbbVie (NYSE:ABBV) Hits New 12-Month High on Analyst Upgrade

Posted by Stanley Muller on Oct 7th, 2026

AbbVie Inc. (NYSE:ABBV – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday after Scotiabank raised their price target on the stock from $280.00 to $320.00. Scotiabank currently has an outperform rating on the stock. AbbVie traded as high as $271.96 and last traded at $271.45, with a volume of 251867 shares traded. The stock had previously closed at $266.69.

A number of other analysts have also issued reports on ABBV. Cantor Fitzgerald restated an “overweight” rating and issued a $240.00 price target (down from $250.00) on shares of AbbVie in a research note on Wednesday, September 16th. Canaccord Genuity Group raised their price objective on AbbVie from $282.00 to $290.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Erste Group Bank raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Wednesday, August 5th. UBS Group lifted their price target on shares of AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, July 13th. Finally, BMO Capital Markets increased their price objective on shares of AbbVie from $258.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $273.82.

Check Out Our Latest Stock Report on ABBV

Insider Buying and Selling at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $250.00, for a total value of $8,177,500.00. Following the sale, the executive vice president owned 74,430 shares of the company’s stock, valued at $18,607,500. This trade represents a 30.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is currently owned by company insiders.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

Positive Sentiment: The FDA granted two Breakthrough Therapy Designations for AbbVie’s investigational telisotuzumab adizutecan (Temab-A) in colorectal cancer and non-small cell lung cancer. The designations strengthen AbbVie’s antibody-drug conjugate portfolio and could accelerate regulatory discussions if clinical results remain positive. AbbVie Temab-A Breakthrough Therapy Designations
Positive Sentiment: AbbVie and Genmab reported that epcoritamab plus R-CHOP reduced the risk of progression or death by 51% versus R-CHOP alone in newly diagnosed diffuse large B-cell lymphoma. The Phase 3 win supports potential expansion of Epkinly into frontline treatment and positions the combination as a possible competitor to Roche’s Polivy, with regulatory discussions planned. Epcoritamab Phase 3 DLBCL Results
Positive Sentiment: Scotiabank raised its AbbVie price target from $280 to $320 and maintained a “sector outperform” rating, implying further potential upside. The broader analyst consensus remains equivalent to a Buy, although ratings are not guarantees of performance. Scotiabank Raises AbbVie Price Target
Neutral Sentiment: AbbVie is scheduled to report third-quarter results later this month. Investors will focus on Humira replacement growth, newer immunology and oncology products, and whether full-year guidance is maintained.
Negative Sentiment: AbbVie lowered third-quarter 2026 adjusted EPS guidance to $3.73–$3.77 from the prior outlook of $3.85, citing $216 million of acquired in-process research and development and milestone expenses. Full-year adjusted EPS guidance was also reduced to $13.76–$13.96.
Negative Sentiment: One analysis highlighted a payout ratio above 190%, raising questions about the sustainability of AbbVie’s dividend if earnings do not improve or special expenses continue. The stock’s elevated valuation also leaves less room for disappointment.

Hedge Funds Weigh In On AbbVie

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp raised its stake in AbbVie by 1.7% during the 2nd 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 in the last quarter. Corient Private Wealth LP acquired a new stake in AbbVie in the second quarter worth about $559,736,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in 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 buying an additional 106,091 shares in the last quarter. Legal & General Group Plc acquired a new position in AbbVie during the 2nd quarter valued at about $2,905,952,000. Finally, Deutsche Bank AG raised its position in shares of AbbVie by 13.0% during the 2nd quarter. Deutsche Bank AG now owns 10,772,949 shares of the company’s stock worth $2,710,905,000 after buying an additional 1,241,587 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

The firm has a market capitalization of $481.62 billion, a P/E ratio of 76.89, a PEG ratio of 1.20 and a beta of 0.24. The firm’s fifty day moving average price is $258.12 and its 200-day moving average price is $235.42.

AbbVie (NYSE:ABBV – Get Free Report) last released its earnings results on Friday, July 31st. The company reported $3.65 earnings per share 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 during the quarter, compared to the consensus estimate of $16.80 billion. During the same period in the prior year, the firm posted $2.97 earnings per share. The firm’s revenue for the quarter 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 expect that AbbVie Inc. will post 14.05 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be given a $1.73 dividend. The ex-dividend date is Thursday, October 15th. This represents a $6.92 annualized dividend and a yield of 2.5%. AbbVie’s payout ratio is 195.48%.

AbbVie Company Profile

(Get Free Report)

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.