AbbVie (NYSE:ABBV) Stock Price Down 1% – What’s Next?

Shares of AbbVie Inc. (NYSE:ABBV) were down 1% on Wednesday . The stock traded as low as $260.31 and last traded at $263.08. Approximately 3,288,654 shares changed hands during trading, a decline of 52% from the average daily volume of 6,798,994 shares. The stock had previously closed at $265.79.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein restated a “market perform” rating on shares of AbbVie in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. boosted their target price on shares of AbbVie from $260.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Evercore set a $235.00 price target on shares of AbbVie in a research note on Friday, May 15th. Royal Bank Of Canada raised their price target on shares of AbbVie from $260.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, July 10th. Finally, Piper Sandler lifted their price target on shares of AbbVie from $298.00 to $303.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $275.95.

AbbVie Trading Down 1.0%

The firm’s fifty day moving average is $250.20 and its 200-day moving average is $228.12. The stock has a market capitalization of $464.81 billion, a PE ratio of 74.32, a price-to-earnings-growth ratio of 0.88 and a beta of 0.30.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 31st. The company reported $3.65 earnings per share 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 during the quarter, compared to analyst estimates of $16.80 billion. During the same quarter last year, the firm posted $2.97 earnings per share. AbbVie’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, equities analysts predict that AbbVie Inc. will post 14.06 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.6%. AbbVie’s dividend payout ratio (DPR) is presently 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 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. 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 through this link. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On AbbVie

Institutional investors have recently modified their holdings of the company. Litman Gregory Wealth Management LLC acquired a new position in AbbVie during the 4th quarter worth about $28,000. Imprint Wealth LLC grew its position in AbbVie by 56.2% in the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after acquiring an additional 45 shares in the last quarter. Burk Holdings LLC acquired a new position in AbbVie in the 2nd quarter valued at about $30,000. Legacy Wealth Managment LLC ID increased its stake in AbbVie by 115.9% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after purchasing an additional 73 shares during the period. Finally, IFC & Insurance Marketing Inc. acquired a new stake in shares of AbbVie during the fourth quarter worth about $31,000. 70.23% of the stock is owned by institutional investors and hedge funds.

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.