AbbVie (NYSE:ABBV) Stock Price Up 0.3%

AbbVie Inc. (NYSE:ABBV)’s stock price rose 0.3% during trading on Tuesday . The company traded as high as $162.27 and last traded at $162.03. Approximately 908,187 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 5,606,162 shares. The stock had previously closed at $161.52.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ABBV shares. Guggenheim raised their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets lowered their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday. Truist Financial lifted their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Finally, Barclays lowered their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.31.

AbbVie Stock Up 0.4 %

The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The stock has a 50-day simple moving average of $174.27 and a two-hundred day simple moving average of $161.00. The firm has a market cap of $287.06 billion, a PE ratio of 48.08, a P/E/G ratio of 2.03 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. AbbVie’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.46 earnings per share. Analysts expect that AbbVie Inc. will post 11.19 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the transaction, the executive vice president now owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock valued at $67,780,003 in the last 90 days. Insiders own 0.25% of the company’s stock.

Institutional Trading of AbbVie

Several hedge funds and other institutional investors have recently made changes to their positions in ABBV. Norges Bank bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $3,229,888,000. Massachusetts Financial Services Co. MA raised its stake in shares of AbbVie by 29,922.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company’s stock worth $899,186,000 after purchasing an additional 6,012,281 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of AbbVie during the fourth quarter valued at $499,955,000. Capital International Investors increased its holdings in AbbVie by 6.0% in the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after buying an additional 2,542,463 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in AbbVie by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after buying an additional 1,702,415 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

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.