AbbVie (NYSE:ABBV) Trading Up 1.6% After Dividend Announcement

AbbVie Inc. (NYSE:ABBV)’s share price traded up 1.6% on Thursday following a dividend announcement from the company. The company traded as high as $255.31 and last traded at $254.9960. 4,392,954 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 6,649,387 shares. The stock had previously closed at $250.91.

The newly announced dividend which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be paid a $1.73 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $6.92 annualized dividend and a yield of 2.7%. AbbVie’s dividend payout ratio is presently 195.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ABBV. Erste Group Bank upgraded AbbVie from a “hold” rating to a “buy” rating in a report on Wednesday, August 5th. BNP Paribas Exane increased their price target on shares of AbbVie from $218.00 to $247.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Guggenheim lifted their price objective on shares of AbbVie from $261.00 to $288.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. BMO Capital Markets boosted their price objective on shares of AbbVie from $258.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Finally, Wells Fargo & Company upped their target price on shares of AbbVie from $295.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $276.64.

AbbVie Stock Up 0.8%

The firm has a fifty day simple moving average of $254.46 and a 200-day simple moving average of $230.94. The company has a market capitalization of $454.36 billion, a P/E ratio of 72.65, a P/E/G ratio of 1.15 and a beta of 0.29.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 31st. The company reported $3.65 EPS 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 company had revenue of $16.99 billion for 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. On average, sell-side analysts predict that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Positive Phase 3 menstrual-migraine results: Atogepant met the primary and secondary endpoints in the LUNA late-stage study, demonstrating reductions in menstrual migraine days along with positive safety and efficacy results. The data could support regulatory expansion of Qulipta into an indication with no specifically approved targeted therapies, potentially broadening AbbVie’s migraine franchise. AbbVie’s Atogepant Meets Goal in Late-Stage Menstrual Migraine Study
• Positive Sentiment: Potentially more flexible treatment use: The results support intermittent preventive treatment around menstruation, which could expand Qulipta’s addressable market beyond continuous daily migraine prevention. Investors view the outcome as evidence of continued momentum in AbbVie’s migraine business. AbbVie Gains as Qulipta Opens a New Migraine Market
• Positive Sentiment: Additional pipeline catalyst: AbbVie completed its ECLIPSE migraine trial, setting up another potential data milestone for the company’s migraine portfolio. A favorable outcome could further strengthen its competitive position in the CGRP market.
• Neutral Sentiment: Dividend maintained: AbbVie declared a quarterly dividend of $1.73 per share, payable November 16 to shareholders of record October 15. The declaration reinforces the income appeal of ABBV but does not represent a new increase in the payout.
• Neutral Sentiment: Analyst confidence remains favorable: HSBC raised its price target to $315 from $300 while maintaining a Buy rating, reflecting optimism about AbbVie’s newer growth products and pipeline.
• Negative Sentiment: Ongoing concentration concerns: Investors continue to monitor AbbVie’s reliance on Skyrizi and Rinvoq to offset Humira’s patent-related decline. The stock’s elevated valuation also leaves less room for disappointment if pipeline launches or immunology growth slow.

Insider Activity

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the stock in a transaction on 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 completion of the sale, the executive vice president owned 74,430 shares of the company’s stock, valued at $18,607,500. This represents a 30.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AbbVie

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABBV. California State Teachers Retirement System grew its holdings in shares of AbbVie by 25,250.3% during the second quarter. California State Teachers Retirement System now owns 679,435,549 shares of the company’s stock worth $170,973,162,000 after buying an additional 676,755,361 shares in the last quarter. State Street Corp raised its position in AbbVie by 1.4% in the 4th 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 lifted its stake in AbbVie by 10.4% in the 4th 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 in the last quarter. Bank of America Corp DE lifted its stake in AbbVie by 1.4% in the 4th quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock valued at $5,900,617,000 after acquiring an additional 356,394 shares in the last quarter. Finally, Norges Bank acquired a new position in AbbVie during the 4th quarter worth approximately $5,865,055,000. 70.23% of the stock is owned by institutional investors and hedge funds.

About AbbVie

AbbVie Inc (NYSE: ABBV) is a global biopharmaceutical company that discovers, develops and commercializes medicines across immunology, oncology, neuroscience, eye care, aesthetics and other specialty areas. The company was established in 2013 after separating from Abbott Laboratories, which retained Abbott’s diversified medical products and diagnostics businesses while AbbVie focused on research-based pharmaceuticals.

AbbVie’s immunology portfolio includes Skyrizi (risankizumab) and Rinvoq (upadacitinib), which are used to treat several inflammatory conditions.