AbbVie (NYSE:ABBV) Trading 2.9% Higher – Here’s What Happened

by · The Markets Daily

Shares of AbbVie Inc. (NYSE:ABBV – Get Free Report) rose 2.9% during mid-day trading on Friday . The company traded as high as $238.01 and last traded at $236.12. Approximately 7,984,502 shares were traded during trading, an increase of 25% from the average daily volume of 6,394,814 shares. The stock had previously closed at $229.45.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Piper Sandler restated an “overweight” rating and issued a $289.00 price target (up previously from $284.00) on shares of AbbVie in a research report on Wednesday, November 5th. Morgan Stanley increased their target price on AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Erste Group Bank downgraded AbbVie from a “buy” rating to a “hold” rating in a report on Tuesday, October 14th. Evercore ISI increased their price objective on AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Finally, Hsbc Global Res cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $240.14.

Get Our Latest Stock Analysis on AbbVie

AbbVie Stock Performance

The firm has a 50-day simple moving average of $226.46 and a two-hundred day simple moving average of $204.95. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The company has a market capitalization of $417.31 billion, a price-to-earnings ratio of 112.44, a price-to-earnings-growth ratio of 1.42 and a beta of 0.50.

AbbVie (NYSE:ABBV – Get Free Report) last announced its quarterly earnings results on Friday, October 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.09. The business had revenue of $15.78 billion during the quarter, compared to analyst estimates of $15.58 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.00 EPS. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. As a group, sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Friday, January 16th will be issued a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a yield of 2.9%. This is an increase from AbbVie’s previous quarterly dividend of $1.64. The ex-dividend date is Friday, January 16th. AbbVie’s dividend payout ratio is 524.24%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Marshall & Sullivan Inc. WA acquired a new position in AbbVie during the second quarter valued at approximately $25,000. Evolution Wealth Management Inc. bought a new stake in shares of AbbVie during the 2nd quarter worth $26,000. TD Capital Management LLC boosted its holdings in shares of AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after buying an additional 58 shares during the period. Spurstone Advisory Services LLC bought a new stake in shares of AbbVie during the 2nd quarter worth $28,000. Finally, Texas Capital Bancshares Inc TX bought a new position in AbbVie in the 3rd quarter worth $31,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

About AbbVie

(Get Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.

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