AbbVie (NYSE:ABBV) Stock Price Down 2.1% – What’s Next?

Shares of AbbVie Inc. (NYSE:ABBV) dropped 2.1% on Tuesday . The company traded as low as $204.53 and last traded at $204.88. Approximately 1,360,577 shares were traded during trading, a decline of 74% from the average daily volume of 5,250,727 shares. The stock had previously closed at $209.17.

Analysts Set New Price Targets

A number of brokerages recently commented on ABBV. Morgan Stanley lifted their price objective on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. UBS Group boosted their price target on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Wells Fargo & Company raised their price objective on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Finally, Guggenheim increased their price target on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

AbbVie Trading Up 0.7 %

The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The company has a market capitalization of $357.99 billion, a P/E ratio of 84.50, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The business has a fifty day moving average price of $196.25 and a 200 day moving average price of $188.87.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period in the prior year, the firm posted $2.79 earnings per share. On average, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.23%. AbbVie’s dividend payout ratio is presently 273.33%.

Insiders Place Their Bets

In other news, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the sale, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,639 shares of company stock valued at $11,067,025. 0.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AbbVie

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABBV. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie during the 3rd quarter worth about $28,000. Fiduciary Advisors Inc. acquired a new stake in AbbVie during the fourth quarter worth approximately $29,000. EnRich Financial Partners LLC boosted its holdings in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares during the period. Promus Capital LLC acquired a new position in shares of AbbVie in the fourth quarter valued at approximately $30,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new position in shares of AbbVie during the fourth quarter worth approximately $31,000. 70.23% of the stock is owned by institutional investors.

AbbVie Company Profile

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.