AbbVie (NYSE:ABBV) Shares Down 0.8%

Shares of AbbVie Inc. (NYSE:ABBV) traded down 0.8% during mid-day trading on Thursday . The company traded as low as $165.57 and last traded at $166.44. 1,227,248 shares were traded during trading, a decline of 78% from the average session volume of 5,539,868 shares. The stock had previously closed at $167.80.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Raymond James increased their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Truist Financial raised their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Guggenheim lifted their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Finally, Barclays raised their price objective on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $177.43.

AbbVie Stock Performance

The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The stock has a market capitalization of $282.63 billion, a P/E ratio of 58.47, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58. The company has a fifty day moving average of $174.59 and a two-hundred day moving average of $160.74.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.11. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. AbbVie’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the company earned $2.46 earnings per share. On average, equities analysts anticipate that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.88%. AbbVie’s payout ratio is currently 227.11%.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On AbbVie

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABBV. Vermillion & White Wealth Management Group LLC bought a new position in AbbVie during the 4th quarter valued at $26,000. Able Wealth Management LLC acquired a new stake in shares of AbbVie during the 4th quarter valued at $33,000. IFS Advisors LLC acquired a new stake in shares of AbbVie during the 1st quarter valued at $36,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of AbbVie during the 4th quarter valued at $37,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of AbbVie during the 1st quarter valued at $37,000. 70.23% of the stock is owned by institutional investors.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.