AbbVie (NYSE:ABBV) Shares Down 1.7% – Here’s What Happened

AbbVie Inc. (NYSE:ABBV)’s share price dropped 1.7% during mid-day trading on Wednesday . The company traded as low as $226.07 and last traded at $228.7910. Approximately 5,478,190 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 7,577,379 shares. The stock had previously closed at $232.86.

Analyst Ratings Changes

A number of brokerages have weighed in on ABBV. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and raised their target price for the company from $225.00 to $265.00 in a research report on Wednesday, December 10th. UBS Group dropped their target price on AbbVie from $240.00 to $230.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Raymond James Financial set a $256.00 target price on shares of AbbVie in a research report on Monday, November 3rd. Piper Sandler upped their price target on shares of AbbVie from $289.00 to $299.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their price target on shares of AbbVie from $250.00 to $260.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $251.56.

AbbVie Stock Performance

The stock has a market cap of $404.36 billion, a PE ratio of 96.95, a price-to-earnings-growth ratio of 0.81 and a beta of 0.35. The company’s 50-day moving average price is $223.93 and its 200 day moving average price is $221.63.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.06. The business had revenue of $16.62 billion for the quarter, compared to analysts’ expectations of $16.39 billion. AbbVie had a negative return on equity of 4,184.47% and a net margin of 6.91%.The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the firm earned $2.16 earnings per share. AbbVie has set its FY 2026 guidance at 14.370-14.570 EPS and its Q1 2026 guidance at 2.970-3.010 EPS. As a group, equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. acquired a new stake in AbbVie in the 2nd quarter valued at about $26,000. Chelsea Counsel Co. purchased a new position in shares of AbbVie during the 3rd quarter valued at $26,000. Spurstone Advisory Services LLC acquired a new position in AbbVie in the 2nd quarter worth about $28,000. Litman Gregory Wealth Management LLC bought a new stake in AbbVie in the fourth quarter worth approximately $28,000. Finally, Westend Capital Management LLC acquired a new position in AbbVie during the fourth quarter worth $29,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

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.