AbbVie (NYSE:ABBV) Trading Down 0.6%

AbbVie Inc. (NYSE:ABBV)’s stock price was down 0.6% during mid-day trading on Thursday . The company traded as low as $167.29 and last traded at $167.99. Approximately 489,323 shares were traded during trading, a decline of 91% from the average daily volume of 5,618,625 shares. The stock had previously closed at $169.03.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ABBV shares. HSBC downgraded AbbVie from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $167.00 to $156.00 in a report on Monday, December 18th. Raymond James raised their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Truist Financial raised their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. BMO Capital Markets raised their price target on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, Barclays raised their price target on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $177.43.

AbbVie Stock Performance

The firm has a market capitalization of $287.39 billion, a price-to-earnings ratio of 59.45, a PEG ratio of 2.15 and a beta of 0.58. The company has a fifty day moving average of $176.42 and a two-hundred day moving average of $159.66. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.03. The business had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the firm posted $3.60 EPS. As a group, equities research analysts predict that AbbVie Inc. will post 11.11 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.82%. AbbVie’s payout ratio is currently 227.11%.

Insider Buying and Selling

In other AbbVie news, CFO Scott T. Reents sold 14,140 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the transaction, the chief financial officer now owns 27,065 shares in the company, valued at approximately $4,802,413.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the transaction, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Scott T. Reents sold 14,140 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following the transaction, the chief financial officer now owns 27,065 shares in the company, valued at approximately $4,802,413.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 383,324 shares of company stock valued at $67,780,003. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On AbbVie

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of AbbVie by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock valued at $23,961,001,000 after purchasing an additional 1,450,089 shares during the last quarter. Capital International Investors increased its stake in shares of AbbVie by 6.0% in the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock valued at $6,971,796,000 after purchasing an additional 2,542,463 shares during the last quarter. Morgan Stanley increased its stake in shares of AbbVie by 2.9% in the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock valued at $4,796,085,000 after purchasing an additional 914,485 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of AbbVie by 89,097.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock valued at $4,719,514,000 after purchasing an additional 29,170,366 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in AbbVie by 7.5% during 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 acquiring an additional 1,702,415 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

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.