AbbVie (NYSE:ABBV) Shares Down 0.5% After Analyst Downgrade

AbbVie Inc. (NYSE:ABBV) shares fell 0.5% on Monday after Barclays lowered their price target on the stock from $195.00 to $187.00. Barclays currently has an overweight rating on the stock. AbbVie traded as low as $158.56 and last traded at $158.89. 1,489,616 shares were traded during trading, a decline of 73% from the average session volume of 5,602,661 shares. The stock had previously closed at $159.62.

ABBV has been the topic of several other reports. Truist Financial lifted their target price on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Guggenheim boosted their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Raymond James increased their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. BMO Capital Markets lowered their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday. Finally, William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.31.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The transaction was disclosed in a legal filing 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 stock in a transaction that occurred 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 transaction, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction that occurred on Wednesday, March 20th. The shares were 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 directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock worth $67,780,003 over the last ninety days. 0.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC acquired a new stake in AbbVie in the 4th quarter valued at approximately $26,000. Able Wealth Management LLC acquired a new stake in shares of AbbVie in the fourth quarter worth $33,000. IFS Advisors LLC acquired a new stake in shares of AbbVie in the first quarter worth $36,000. Ables Iannone Moore & Associates Inc. bought a new position in AbbVie during the fourth quarter worth $37,000. Finally, Redmont Wealth Advisors LLC acquired a new position in AbbVie during the 1st quarter valued at $37,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.7 %

The firm’s 50-day simple moving average is $174.01 and its 200-day simple moving average is $161.10. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The company has a market capitalization of $288.07 billion, a price-to-earnings ratio of 48.28, a price-to-earnings-growth ratio of 2.03 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period in the previous year, the company posted $2.46 earnings per share. The company’s quarterly revenue was up .7% compared to the same quarter last year. Sell-side analysts forecast that AbbVie Inc. will post 11.19 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.81%. AbbVie’s dividend payout ratio is currently 183.98%.

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.