AbbVie (NYSE:ABBV) Stock Price Up 1.3%

AbbVie Inc. (NYSE:ABBV)’s stock price rose 1.3% during mid-day trading on Tuesday . The company traded as high as $170.16 and last traded at $170.12. Approximately 845,594 shares changed hands during trading, a decline of 85% from the average daily volume of 5,571,998 shares. The stock had previously closed at $167.89.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. BMO Capital Markets boosted 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. Raymond James boosted 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. Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Barclays boosted 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. Finally, Truist Financial boosted their price objective on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $177.43.

AbbVie Stock Down 1.0 %

The firm’s fifty day moving average price is $175.13 and its 200-day moving average price is $160.62. The company has a market capitalization of $297.17 billion, a price-to-earnings ratio of 61.48, a P/E/G ratio of 2.16 and a beta of 0.58. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the previous year, the firm posted $3.60 earnings per share. AbbVie’s revenue for the quarter was down 5.4% on a year-over-year basis. Sell-side analysts expect that AbbVie Inc. will post 11.16 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.69%. AbbVie’s dividend payout ratio is 227.11%.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Perry C. Siatis sold 9,891 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $177.39, for a total transaction of $1,754,564.49. Following the sale, the executive vice president now directly owns 10,397 shares in the company, valued at approximately $1,844,323.83. 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 over the last 90 days. 0.25% of the stock is owned by insiders.

Institutional Trading of AbbVie

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

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.