AbbVie Stock Hits a New 52-Week High. Has It Gotten Too Expensive to Buy?

AbbVie hit a new 52-week high and is up 40% over the past 12 months, though year-to-date gains are modest at 11%. Despite the elevated stock price, the company trades at less than 18x forward earnings—below the S&P 500 average of 21—making it reasonably valued. The pharmaceutical giant's recent $10.9 billion acquisition of Apogee Therapeutics and strong financial performance support its position as an attractive long-term dividend stock.