AbbVie (NYSE:ABBV) Shares Down 0.1%

AbbVie Inc. (NYSE:ABBVGet Free Report)’s share price dropped 0.1% on Thursday . The company traded as low as $157.76 and last traded at $159.38. Approximately 903,885 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 5,480,946 shares. The stock had previously closed at $159.61.

Analysts Set New Price Targets

ABBV has been the topic of a number of research reports. Cantor Fitzgerald initiated coverage on shares of AbbVie in a research note on Friday, May 17th. They issued an “overweight” rating and a $200.00 price target on the stock. Raymond James raised their target price on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Barclays decreased their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Guggenheim raised their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, BMO Capital Markets decreased their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $176.14.

Check Out Our Latest Research Report on AbbVie

AbbVie Price Performance

The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The company has a market cap of $280.35 billion, a PE ratio of 47.29, a PEG ratio of 2.09 and a beta of 0.61. The company’s 50-day simple moving average is $168.81 and its 200 day simple moving average is $162.98.

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

Insider Transactions at AbbVie

In other news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction on Wednesday, February 28th. The shares were 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 directly owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the sale, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were 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 directly owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The disclosure for this sale can be found here. In the last three months, insiders sold 330,454 shares of company stock valued at $58,595,955. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On AbbVie

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lokken Investment Group LLC raised its position in shares of AbbVie by 3.6% during the 4th quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock worth $258,000 after buying an additional 58 shares in the last quarter. Arcadia Investment Management Corp MI raised its holdings in shares of AbbVie by 0.6% in the 1st quarter. Arcadia Investment Management Corp MI now owns 9,371 shares of the company’s stock worth $1,706,000 after purchasing an additional 59 shares in the last quarter. Aspen Wealth Strategies LLC raised its holdings in shares of AbbVie by 0.5% in the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after purchasing an additional 61 shares in the last quarter. Marks Group Wealth Management Inc raised its holdings in shares of AbbVie by 2.9% in the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after purchasing an additional 63 shares in the last quarter. Finally, Spinnaker Investment Group LLC raised its holdings in shares of AbbVie by 1.6% in the 1st quarter. Spinnaker Investment Group LLC now owns 4,068 shares of the company’s stock worth $741,000 after purchasing an additional 64 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

About AbbVie

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.