AbbVie (NYSE:ABBV) Stock Price Down 3% – Should You Sell?

AbbVie Inc. (NYSE:ABBV) shares fell 3% during mid-day trading on Tuesday . The company traded as low as $248.41 and last traded at $248.7480. Approximately 5,139,733 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 6,664,852 shares. The stock had previously closed at $256.46.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ABBV shares. Piper Sandler lifted their target price on AbbVie from $298.00 to $303.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. Canaccord Genuity Group boosted their price objective on shares of AbbVie from $282.00 to $290.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Cantor Fitzgerald increased their target price on shares of AbbVie from $265.00 to $285.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Wolfe Research raised shares of AbbVie from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research note on Thursday, August 13th. Finally, BNP Paribas Exane upped their price objective on shares of AbbVie from $218.00 to $247.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Two equities 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $275.95.

AbbVie Trading Down 3.0%

The company has a market capitalization of $439.49 billion, a PE ratio of 70.27, a P/E/G ratio of 1.16 and a beta of 0.29. The firm has a 50 day simple moving average of $254.71 and a two-hundred day simple moving average of $230.21.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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. The firm had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.AbbVie’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Research analysts expect that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th were issued a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Wednesday, July 15th. AbbVie’s dividend payout ratio is 195.48%.

Insider Activity

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the sale, the executive vice president directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AbbVie

Several institutional investors and hedge funds have recently modified their holdings of the company. Ranch Capital Advisors Inc. grew its stake in shares of AbbVie by 37.0% during the first quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company’s stock valued at $3,238,000 after acquiring an additional 4,017 shares in the last quarter. Capital Advisors Inc. OK boosted its holdings in AbbVie by 11.2% in the second quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company’s stock valued at $112,516,000 after purchasing an additional 45,132 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab acquired a new stake in AbbVie during the 2nd quarter valued at approximately $23,557,000. Wedge Capital Management L L P NC grew its stake in AbbVie by 7.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 134,579 shares of the company’s stock valued at $33,865,000 after purchasing an additional 9,380 shares in the last quarter. Finally, Mission Wealth Management LP increased its holdings in AbbVie by 119.1% during the 2nd quarter. Mission Wealth Management LP now owns 69,052 shares of the company’s stock worth $17,376,000 after purchasing an additional 37,531 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

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.