AbbVie (NYSE:ABBV) Shares Up 0.3%

AbbVie Inc. (NYSE:ABBV) shot up 0.3% during mid-day trading on Tuesday . The stock traded as high as $162.27 and last traded at $162.03. 908,187 shares were traded during trading, a decline of 84% from the average session volume of 5,606,162 shares. The stock had previously closed at $161.52.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Raymond James increased their target price on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Barclays cut their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday. Truist Financial increased their price objective on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Finally, BMO Capital Markets decreased their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday. 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 stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.31.

AbbVie Trading Up 0.4 %

The stock has a market capitalization of $287.06 billion, a PE ratio of 48.08, a P/E/G ratio of 2.03 and a beta of 0.58. The company’s 50 day moving average price is $174.27 and its two-hundred day moving average price is $161.00. 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 released its earnings results on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the company posted $2.46 EPS. The business’s revenue was up .7% on a year-over-year basis. As a group, analysts expect that AbbVie Inc. will post 11.19 earnings per share for the current 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 issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is currently 183.98%.

Insider Activity at AbbVie

In other news, EVP Nicholas Donoghoe sold 21,082 shares of the 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 sale, the executive vice president now directly owns 55,903 shares in the company, valued at $9,855,698.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 519,099 shares in the company, valued at $92,020,679.73. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the sale, 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. In the last quarter, insiders sold 383,324 shares of company stock worth $67,780,003. Insiders own 0.25% of the company’s stock.

Institutional Trading of AbbVie

Institutional investors and hedge funds have recently made changes to their positions in the company. Modus Advisors LLC increased its stake in shares of AbbVie by 1.6% during the third quarter. Modus Advisors LLC now owns 22,215 shares of the company’s stock worth $3,311,000 after acquiring an additional 341 shares during the period. Avion Wealth increased its holdings in shares of AbbVie by 17.1% in the 3rd quarter. Avion Wealth now owns 547 shares of the company’s stock valued at $80,000 after purchasing an additional 80 shares in the last quarter. Bfsg LLC lifted its stake in AbbVie by 3.9% in the 3rd quarter. Bfsg LLC now owns 26,158 shares of the company’s stock valued at $3,899,000 after buying an additional 993 shares in the last quarter. Avestar Capital LLC grew its holdings in AbbVie by 34.6% during the 3rd quarter. Avestar Capital LLC now owns 7,456 shares of the company’s stock valued at $1,111,000 after buying an additional 1,916 shares during the last quarter. Finally, Lake Street Financial LLC raised its holdings in shares of AbbVie by 2.9% in the third quarter. Lake Street Financial LLC now owns 31,054 shares of the company’s stock worth $4,728,000 after acquiring an additional 885 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

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.