AbbVie Inc. (NYSE:ABBV) SVP Kevin K. Buckbee Sells 1,800 Shares

AbbVie Inc. (NYSE:ABBV) SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

AbbVie Price Performance

Shares of AbbVie stock opened at $173.02 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 52 week low of $151.29 and a 52 week high of $207.32. The stock’s 50-day simple moving average is $183.39 and its 200-day simple moving average is $183.32. The company has a market capitalization of $305.75 billion, a price-to-earnings ratio of 60.08, a PEG ratio of 1.92 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. AbbVie’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the company posted $2.95 earnings per share. As a group, analysts expect that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.79%. AbbVie’s payout ratio is 227.78%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of research analyst reports. William Blair upgraded AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Piper Sandler raised their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday. Sanford C. Bernstein started coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective for the company. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research report on Thursday, December 5th. Finally, JPMorgan Chase & Co. decreased their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.70.

Institutional Investors Weigh In On AbbVie

Several large investors have recently added to or reduced their stakes in the stock. Legacy Wealth Management LLC MS purchased a new stake in AbbVie during the 3rd quarter valued at $321,000. Birmingham Capital Management Co. Inc. AL grew its stake in shares of AbbVie by 3.0% during the third quarter. Birmingham Capital Management Co. Inc. AL now owns 30,622 shares of the company’s stock valued at $6,047,000 after buying an additional 900 shares during the last quarter. DGS Capital Management LLC lifted its stake in shares of AbbVie by 12.4% during the 3rd quarter. DGS Capital Management LLC now owns 3,361 shares of the company’s stock worth $664,000 after acquiring an additional 371 shares during the last quarter. Copley Financial Group Inc. bought a new position in AbbVie in the 3rd quarter valued at $489,000. Finally, Oddo BHF Asset Management Sas bought a new stake in shares of AbbVie during the third quarter worth $4,768,000. 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.