AbbVie (NYSE:ABBV) Stock Price Down 0.4%

Shares of AbbVie Inc. (NYSE:ABBV) fell 0.4% on Friday . The stock traded as low as $157.14 and last traded at $157.59. 634,273 shares were traded during mid-day trading, a decline of 88% from the average session volume of 5,480,122 shares. The stock had previously closed at $158.26.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Truist Financial boosted their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Barclays decreased their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. BMO Capital Markets dropped their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Finally, Cantor Fitzgerald started coverage on AbbVie in a research note on Friday, May 17th. They set an “overweight” rating and a $200.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $176.14.

AbbVie Stock Performance

The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The stock has a market capitalization of $277.35 billion, a price-to-earnings ratio of 46.61, a PEG ratio of 2.03 and a beta of 0.61. The stock’s 50 day moving average is $167.94 and its 200 day moving average is $163.20.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same period in the previous year, the firm posted $2.46 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. On average, analysts predict that AbbVie Inc. will post 11.26 earnings per share for the current year.

Insider Activity at AbbVie

In related news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s 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 transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the transaction, the chief executive officer now owns 519,099 shares in the company, valued at $92,020,679.73. The disclosure for this sale can be found here. In the last quarter, insiders sold 302,561 shares of company stock valued at $53,645,658. 0.25% of the stock is owned by insiders.

Institutional Investors Weigh In On AbbVie

Institutional investors have recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC purchased a new position in AbbVie in the fourth quarter valued at about $26,000. Able Wealth Management LLC acquired a new stake in AbbVie in the fourth quarter worth $33,000. IFS Advisors LLC acquired a new stake in shares of AbbVie in the 1st quarter worth about $36,000. Ables Iannone Moore & Associates Inc. bought a new stake in AbbVie during the 4th quarter valued at $37,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of AbbVie during the 1st quarter worth about $37,000. Hedge funds and other 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.