AbbVie (NYSE:ABBV) Trading 3.9% Higher – What’s Next?

AbbVie Inc. (NYSE:ABBV)’s stock price shot up 3.9% on Thursday . The company traded as high as $261.64 and last traded at $260.8780. 6,793,011 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 7,207,927 shares. The stock had previously closed at $251.06.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie said its ongoing post-market study for CoolSculpting Elite showed encouraging results, strengthening the outlook for its aesthetics business and suggesting the franchise could remain a meaningful growth driver. AbbVie’s CoolSculpting Elite Study Update Strengthens Aesthetics Outlook
• Positive Sentiment: AbbVie was highlighted in dividend-focused commentary as one of the market’s more reliable income stocks, reinforcing the investment case around its strong cash flow, defensive profile, and shareholder returns. 3 Dividend Stocks to Buy Hand Over Fist in July
• Positive Sentiment: Recent coverage also pointed to AbbVie’s venetoclax data in chronic lymphocytic leukemia as another sign that the company’s core pharmaceutical pipeline remains productive, supporting long-term earnings visibility. AbbVie Inc. (ABBV) Hits New Milestone with Venetoclax on Chronic Lymphocytic Leukemia (CLL) Treatment
• Neutral Sentiment: Analysts and comparison pieces this week largely framed AbbVie as a strong long-term healthcare name versus peers like Johnson & Johnson, but these were more valuation and portfolio discussions than fresh company-specific catalysts. J&J or AbbVie: Which Stock Deserves a Place in Your Portfolio Now?
• Negative Sentiment: One analyst note trimmed its FY2027 EPS estimate slightly, which is a mild headwind, though the change was small and did not materially alter the broader earnings outlook for AbbVie.

Wall Street Analyst Weigh In

Several research firms recently commented on ABBV. Morgan Stanley boosted their price target on AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Wall Street Zen upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 27th. BMO Capital Markets reaffirmed an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Bank of America upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 target price for the company in a research note on Thursday, April 30th. Finally, Evercore set a $235.00 price target on shares of AbbVie in a research report on Friday, May 15th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $253.81.

AbbVie Stock Up 3.9%

The firm has a market capitalization of $460.92 billion, a price-to-earnings ratio of 128.51, a P/E/G ratio of 0.83 and a beta of 0.32. The stock has a 50 day moving average of $217.86 and a 200 day moving average of $219.76.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The firm had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. During the same quarter in the prior year, the firm posted $2.46 earnings per share. AbbVie’s revenue for the quarter was up 12.4% compared to the same quarter last year. Analysts predict that AbbVie Inc. will post 14.28 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie’s dividend payout ratio is currently 340.89%.

Hedge Funds Weigh In On AbbVie

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in AbbVie by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock valued at $41,306,353,000 after purchasing an additional 3,032,438 shares during the period. State Street Corp lifted its stake in AbbVie by 1.4% in the fourth quarter. State Street Corp now owns 80,940,931 shares of the company’s stock valued at $18,494,193,000 after buying an additional 1,119,274 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of AbbVie by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock valued at $10,179,099,000 after acquiring an additional 4,190,487 shares during the period. Bank of America Corp DE grew its position in shares of AbbVie by 1.4% during the fourth quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock worth $5,900,617,000 after acquiring an additional 356,394 shares during the last quarter. Finally, Norges Bank bought a new position in shares of AbbVie during the fourth quarter worth about $5,865,055,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Company Profile

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.