AbbVie (NYSE:ABBV) Trading Up 1.1%

AbbVie Inc. (NYSE:ABBV) rose 1.1% during trading on Tuesday . The stock traded as high as $163.67 and last traded at $163.49. Approximately 1,331,324 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 5,614,362 shares. The stock had previously closed at $161.67.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Raymond James lifted their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. HSBC downgraded shares of AbbVie from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $167.00 to $156.00 in a report on Monday, December 18th. Truist Financial upped their price target 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. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Finally, Barclays upped their target price on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $177.43.

AbbVie Trading Up 1.2 %

The firm has a market cap of $289.63 billion, a price-to-earnings ratio of 59.91, a PEG ratio of 2.07 and a beta of 0.58. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The company has a 50-day moving average price of $176.23 and a 200 day moving average price of $159.81.

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

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given 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 3.79%. AbbVie’s payout ratio is 227.11%.

Insiders Place Their Bets

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction dated Wednesday, February 28th. The shares were 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 directly owns 519,099 shares in the company, valued at approximately $92,020,679.73. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock valued at $67,780,003 in the last three months. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC acquired a new position in AbbVie during the 4th quarter valued at $26,000. Able Wealth Management LLC acquired a new position in shares of AbbVie during the fourth quarter valued at about $33,000. Hibernia Wealth Partners LLC bought a new stake in shares of AbbVie in the third quarter valued at about $36,000. IFS Advisors LLC acquired a new stake in AbbVie during the first quarter worth about $36,000. Finally, Ables Iannone Moore & Associates Inc. bought a new position in AbbVie during the fourth quarter valued at about $37,000. Institutional investors and hedge funds 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.