Nicholas Donoghoe Sells 13,295 Shares of AbbVie Inc. (NYSE:ABBV) Stock

AbbVie Inc. (NYSE:ABBV) EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $198.77 on Friday. The business has a 50-day simple moving average of $189.13 and a two-hundred day simple moving average of $190.69. The firm has a market cap of $351.13 billion, a price-to-earnings ratio of 94.65, a price-to-earnings-growth ratio of 1.26 and a beta of 0.50. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.74.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.65 earnings per share. On average, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Tuesday, July 15th. AbbVie’s payout ratio is currently 312.38%.

Institutional Investors Weigh In On AbbVie

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of AbbVie by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company’s stock valued at $36,439,271,000 after buying an additional 845,787 shares in the last quarter. Capital Research Global Investors lifted its position in shares of AbbVie by 2.3% during the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock valued at $6,038,898,000 after buying an additional 778,126 shares in the last quarter. Northern Trust Corp lifted its position in shares of AbbVie by 0.9% during the 1st quarter. Northern Trust Corp now owns 22,013,920 shares of the company’s stock valued at $4,612,357,000 after buying an additional 189,294 shares in the last quarter. Capital World Investors lifted its position in shares of AbbVie by 6.2% during the 4th quarter. Capital World Investors now owns 16,410,277 shares of the company’s stock valued at $2,915,990,000 after buying an additional 959,242 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of AbbVie by 31.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after buying an additional 3,519,187 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup upped their target price on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, June 11th. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 target price on the stock. Evercore ISI upped their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price on the stock in a research report on Thursday. Finally, Guggenheim upped their target price on shares of AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $214.43.

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.