AbbVie (ABBV) Stock on December 2, 2025: Dividend Hike, Cancer Pipeline Momentum and 2026 Outlook

AbbVie Inc. (NYSE: ABBV) heads into the final month of 2025 as one of the most closely watched large‑cap healthcare stocks, with fresh dividend news, new oncology and migraine data, and an upbeat earnings outlook all hitting the tape just as investors look toward 2026.

As of December 2, 2025, AbbVie shares trade around $224–$225 per share, giving the company a market capitalization in the high‑$300 to roughly $400 billion range. TS2 Tech The stock is up roughly 20–30% in 2025, depending on the exact start date used, handily outpacing much of the broader healthcare sector. ^[1]

Below is a deep dive into today’s key AbbVie stock news, forecasts and analysis as of December 2, 2025, written with Google News and Discover in mind.

AbbVie stock today: price, valuation and dividend profile

Price and returns

Latest price: about $224.33 per share.
52‑week range: roughly $164–$245, keeping AbbVie near the upper end of its one‑year trading band. TS2 Tech+1
Market cap: estimates cluster between $383 billion and just over $400 billion, placing AbbVie among the biggest healthcare companies globally. ^[2]
2025 performance: Barchart and Benzinga data point to a ~22% year‑to‑date gain, while recent commentary based on late‑November prices cites total 2025 returns closer to 30–32% from earlier lows. ^[3]

Whatever exact percentage you pick, the takeaway is straightforward: ABBV has been a strong performer in 2025 after investors grew more confident that the company could transition beyond its former blockbuster Humira.

Valuation snapshot

Several data providers now show AbbVie trading at:

Trailing P/E: well over 100x, distorted by heavy one‑time R&D and acquisition charges that depressed GAAP earnings. ^[4]
Forward P/E: in the mid‑teens (around 16–17x) 2025 earnings, much more in line with large‑cap pharma peers. ^[5]

Simply Wall St’s latest deep‑dive goes further, estimating:

DCF “fair value” around $427.65 per share, implying AbbVie trades at roughly a 47% discount to that intrinsic value model. ^[6]
A price‑to‑sales ratio of 6.67x, versus a model‑derived “fair” P/S of 11.22x, again suggesting undervaluation on their methodology. ^[7]

Those are model outputs, not guarantees, but they help explain why value‑oriented investors remain interested despite the stock’s rally.

Dividend: new hike and 2026 yield

Dividends remain a core part of the AbbVie story:

On October 31, 2025, AbbVie announced a 5.5% dividend increase starting in 2026, continuing its long streak of annual raises. ^[8]
A follow‑up note on December 2, 2025 highlights that the board has approved a quarterly dividend of $1.73 per share, payable on February 17, 2026. At today’s share price, that works out to a dividend yield of roughly 3.1%. ^[9]

For income‑oriented investors, AbbVie still screens as a large, growing dividend payer with a yield notably above the S&P 500 average, backed by management’s willingness to keep raising the payout even while it spends heavily on R&D and acquisitions.

Fresh headlines on December 2, 2025: dividend and cancer data

New data at ASH 2025 underscores oncology ambitions

On December 2, 2025, AbbVie released a new update on its presence at the American Society of Hematology (ASH) 2025 meeting. The company is showcasing data across several key technologies:

T‑cell engagers
BCL‑2 inhibitors
Antibody‑drug conjugates (ADCs)

These span multiple difficult‑to‑treat blood cancers, underlining how central hematology is becoming to AbbVie’s growth story. ^[10]

This ASH presence builds on an important regulatory milestone just weeks earlier:

AbbVie announced U.S. FDA approval of EPKINLY (epcoritamab‑bysp) in combination with rituximab and lenalidomide (EPKINLY + R²) for adult patients with relapsed or refractory follicular lymphoma after at least one prior systemic therapy. ^[11]
In the Phase 3 EPCORE FL‑1 trial, the combo:
- Cut the risk of progression or death by about 79% versus standard R².
- Achieved 89% overall response rate and 74% complete response rate, with median progression‑free survival not yet reached. ^[12]

EPKINLY + R² is described as the first bispecific antibody combination therapy approved for this lymphoma setting, giving AbbVie a differentiated asset in a competitive but high‑value oncology niche. ^[13]

For investors, this kind of data supports the thesis that AbbVie’s post‑Humira era will lean heavily on immunology, oncology and neuroscience, not just on incremental line extensions.

Migraine franchise: atogepant (Qulipta/Aquipta) steps up

Another big theme in the latest coverage is AbbVie’s growing migraine franchise, centered on atogepant, marketed as Qulipta in the U.S. and Aquipta in Europe.

New Phase 3 ECLIPSE results

On December 1, 2025, AbbVie unveiled Phase 3 ECLIPSE data:

Atogepant was superior to placebo for the acute treatment of migraine, achieving pain freedom at two hours after treatment of the first attack in 24.3% of patients vs 13.1% on placebo. ^[14]
The first 12 of 16 secondary endpoints also met statistical significance, including freedom from the most bothersome symptom at two hours. ^[15]

Earlier in 2025, AbbVie also reported that atogepant beat topiramate in a head‑to‑head Phase 3 prevention study, with fewer discontinuations due to side effects and better reductions in monthly migraine days. ^[16]

Together, these trials suggest atogepant could:

Expand its label into acute migraine on top of existing approvals for prevention.
Strengthen AbbVie’s footprint in neurology, complementing Botox’s therapeutic uses and new assets acquired via Cerevel and other deals. ^[17]

For ABBV stock, strong atogepant data is important because it diversifies revenue away from immunology while still offering blockbuster‑scale potential.

Q3 2025 earnings: Skyrizi and Rinvoq now outmuscle Humira

AbbVie’s third‑quarter 2025 results are the fundamental backbone behind analysts’ generally bullish tone.

Headline numbers

For Q3 2025 (reported October 31):

Net revenue:$15.78 billion, up 9.1% year over year, ahead of Wall Street estimates. ^[18]
Adjusted EPS:$1.86, down 38% from the prior year, but above the consensus estimate of $1.77. ^[19]
GAAP EPS: just $0.10, heavily impacted by about $1.50 per share of acquired R&D and milestone expense. ^[20]

Despite that earnings drag, AbbVie raised its full‑year 2025 adjusted EPS guidance to a range of $10.61–$10.65, up from $10.38–$10.58. ^[21]

An earnings summary from independent data providers indicates management expects:

Q4 2025 adjusted EPS of about $3.32–$3.36.
Q4 net revenue of $16.3 billion+.
A non‑GAAP tax rate close to 17.3%. ^[22]

Skyrizi + Rinvoq: the new engine

The most striking datapoint out of Q3 is how far Skyrizi and Rinvoq have come:

Skyrizi sales: about $4.7 billion, up 47% year over year.
Rinvoq sales: roughly $2.2 billion, up ~35%.
Combined, the pair generated about $6.9 billion in Q3 2025 – more than Humira’s all‑time quarterly peak of $5.6 billion before it lost exclusivity in 2023. ^[23]

By contrast, Humira revenue has shrunk to under $1 billion per quarter as biosimilars proliferate. ^[24]

AbbVie has long predicted that Skyrizi and Rinvoq would eventually more than offset the Humira cliff, targeting combined sales of about $31 billion by 2027 ($20 billion from Skyrizi, $11 billion from Rinvoq). ^[25] Q3’s numbers suggest that trajectory is very much on track.

Other segments

Neuroscience (including Botox Therapeutic) grew around 20% year on year to about $2.84 billion. ^[26]
Aesthetics revenue (Botox Cosmetic, Juvederm, etc.) was roughly $1.19 billion, down a few percent as that market continues to digest macro headwinds. ^[27]
Oncology held roughly flat at about $1.68 billion, but with important pipeline events (EPKINLY approval, ASH data) potentially paving the way for renewed growth. ^[28]

In short, immunology and neuroscience are doing the heavy lifting, while oncology is setting up future catalysts.

M&A and pipeline strategy: building for a post‑Humira decade

AbbVie has spent the last two years on an acquisition spree, aiming to bolster its position across oncology and neuroscience:

ImmunoGen acquisition (ADC oncology) – completed February 2024 in a deal valued at about $10.1 billion, bringing in the ovarian cancer ADC Elahere and a broader ADC platform. AbbVie expects the deal to become EPS‑accretive from 2027 onward. ^[29]
Cerevel Therapeutics acquisition (neuroscience) – closed August 1, 2024 for roughly $8.7 billion, adding a pipeline of drugs targeting psychiatric and neurological disorders. ^[30]
Gilgamesh Pharma deal (psychedelic‑inspired depression drug) – announced August 25, 2025, giving AbbVie rights to bretisilocin, a next‑generation 5‑HT2A modulator, in a transaction worth up to $1.2 billion in milestones. ^[31]

These moves follow the same logic: use AbbVie’s cash flow from established franchises to acquire late‑stage or near‑commercial assets in high‑value therapeutic areas.

There have also been some setbacks:

In June 2025, AbbVie disclosed that Venclexta did not improve overall survival in a late‑stage trial in high‑risk myelodysplastic syndromes (MDS), trimming expectations for that particular indication. ^[32]

Still, the broader hematology pipeline – including EPKINLY and BCL‑2 combinations – remains a central focus, as the ASH 2025 agenda underscores. ^[33]

What Wall Street analysts are saying about ABBV

Ratings and price targets

Across multiple sources, the Street view on AbbVie is broadly positive:

Barchart reports a “Moderate Buy” consensus from 28 analysts, made up of 15 Strong Buys, 2 Moderate Buys and 11 Holds. The average price target of about $241 implies ~13% upside, with a Street‑high target around $284. ^[34]
Benzinga cites a Buy rating from 28 analysts, with an average target of $228.44, a high of $284 and a low of $190. The three most recent notes cluster around $258.67, suggesting ~13% near‑term upside from recent prices. ^[35]
A recent DirectorsTalkInterviews summary tallies 20 Buy, 9 Hold and just 1 Sell recommendation, with an average target price of $243.55 (about 7% upside) and a target range spanning $184–$289. ^[36]
StockAnalysis shows a similar picture: an overall “Buy” rating and a 12‑month price target of roughly $240, implying high‑single‑digit upside. ^[37]

On top of this, Scotiabank recently initiated AbbVie with an Outperform rating and a $280 price target, reflecting a more aggressive bull case. ^[38]

A MarketBeat earnings summary also notes that analysts expect AbbVie’s earnings to grow about 13–14% in 2026, from roughly $12.3 to $14 per share, supporting the view that 2025’s heavy investment phase could lead to healthier profit growth next year. ^[39]

Institutional flows and mixed sentiment

Recent coverage also highlights:

Large institutions tweaking positions in AbbVie – for example, Fisher Asset Management trimming its stake, even as many analysts reiterate buy‑leaning ratings. ^[40]
At least one analyst downgrade in late November, even as others raise or initiate bullish targets, illustrating how valuation concerns are starting to compete with fundamental enthusiasm. TS2 Tech+1

Overall, Wall Street still leans bullish, but the conversation has shifted from “Is AbbVie broken post‑Humira?” to “How much of the Skyrizi/Rinvoq and pipeline upside is already in the stock?”

Quantitative stock forecasts and technical models

Alongside human analysts, several quantitative and technical models are now widely cited in AbbVie coverage:

CoinCodex expects ABBV to rise about 14% to around $255 by January 1, 2026, based on its current algorithm. It labels AbbVie “a good stock to buy” in its framework and projects a potential ~43% price increase over the next year, even though near‑term sentiment is tagged as “Neutral” and its Fear & Greed index is in “Fear” territory. ^[41]
StockAnalysis pegs a 12‑month fair value near $240, close to the mainstream analyst average. ^[42]
Long‑range forecasting site LongForecast publishes much more aggressive long‑term targets (including historical estimates for December 2025), but its AbbVie page has not been substantively updated in years and should be treated as background noise rather than a forward‑looking guide. ^[43]

These algorithms can offer an extra data point, but they rely heavily on historical price patterns and simplified assumptions. They generally do not fully account for:

Surprises in clinical trial outcomes
Future regulatory decisions or drug pricing reforms
Large, unannounced acquisitions or divestitures

Investors typically treat them as supplements, not substitutes, for fundamental analysis.

Key risks for AbbVie shareholders heading into 2026

Even with strong momentum, there are notable risks that feature prominently in current analysis and forecasts:

US drug‑pricing reform and Medicare negotiations
- AbbVie’s biggest revenue drivers are high‑priced specialty drugs squarely in the sights of U.S. lawmakers and Medicare price‑setting processes.
- Recent commentary explicitly frames 2026 Medicare price cuts and broader reforms as an overhang investors must monitor when modelling long‑term margins. TS2 Tech+1
Concentration in a few key assets
- Skyrizi and Rinvoq already generate more revenue combined than Humira ever did in a single quarter. ^[44]
- That’s bullish today, but it also means AbbVie remains highly dependent on a small cluster of immunology assets, making future patent cliffs and competitive threats in those indications critical.
M&A integration and R&D execution
- Deals for ImmunoGen, Cerevel and Gilgamesh collectively represent over $20 billion of capital deployed. ^[45]
- The earlier downward revision to 2025 EPS guidance in April, driven by acquisition‑related expenses, showed how quickly earnings expectations can move when R&D spending spikes. ^[46]
Regulatory and safety headlines
- Setbacks like the Venclexta MDS trial failure, or FDA scrutiny of Qulipta advertising, remind investors that clinical and regulatory risk is ever‑present. ^[47]
Macro and aesthetics sensitivity
- The Aesthetics franchise has shown it can soften in tougher macro environments, pressuring one of AbbVie’s higher‑margin businesses. ^[48]

None of these are unique to AbbVie, but they are front‑of‑mind in the latest research and should be part of any serious investment thesis.

Bottom line: how AbbVie stock looks as of December 2, 2025

Putting the latest news, forecasts and analysis together, the current narrative around ABBV looks something like this:

Bullish pillars

Immunology engine firing: Skyrizi and Rinvoq are delivering powerful double‑digit growth and now out‑earning Humira’s former peak levels. ^[49]
Pipeline depth in oncology and neuroscience: New approvals like EPKINLY + R², ASH 2025 data, and atogepant’s growing file support the view that AbbVie is building durable franchises in blood cancers and migraine. ^[50]
Shareholder returns: A dividend yield around 3.1% combined with regular dividend hikes remains a key attraction. ^[51]
Analyst support: Most major brokerages still rate the stock a Buy or Outperform, with average targets offering high‑single‑ to low‑double‑digit upside from current levels. ^[52]

Bearish and cautious counterpoints

Valuation creep: After a strong 2025 rally, AbbVie no longer looks “cheap” on simple multiples, and some analysts have started to downgrade or move to Hold on valuation grounds. TS2 Tech+2TS2 Tech+2
Policy risk: U.S. drug‑pricing reforms and Medicare negotiations remain an unpredictable swing factor for ABBV’s long‑term margins. TS2 Tech+2TS2 Tech+2
Execution risk on acquisitions and pipeline: Turning expensive deals and ambitious clinical programs into sustained EPS growth will require clean execution over several years. ^[53]

For now, the consensus story is that AbbVie has successfully navigated the Humira patent cliff and is using its cash flow to build new pillars in immunology, oncology and neuroscience. Whether ABBV remains a market‑beating investment from here will largely depend on:

The durability of Skyrizi and Rinvoq’s growth
The commercial impact of atogepant and EPKINLY
How harsh U.S. pricing reforms ultimately prove to be

As always, this article is informational only and not financial advice. Anyone considering AbbVie stock should weigh these factors against their own risk tolerance, time horizon and portfolio needs.