AbbVie Stock Hits New 52-Week High, But Valuation Remains Below S&P 500 Average

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Summary · why it matters

AbbVie stock reached a new 52-week high on Monday, rising about 40% over the past 12 months. Despite the milestone, the stock trades at less than 18 times estimated future earnings, below the S&P 500 average of 21. The company recently announced a $10.9 billion acquisition of Apogee Therapeutics to expand its immunology portfolio. AbbVie also offers a dividend yield of 2.7%. Analysts note the stock may still be attractive for long-term investors given its valuation and growth prospects.