AbbVie (NYSE:ABBV) Shares Down 1.4%

AbbVie Inc. (NYSE:ABBV) was down 1.4% on Wednesday . The company traded as low as $159.87 and last traded at $160.24. Approximately 924,089 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 5,604,779 shares. The stock had previously closed at $162.55.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ABBV. Barclays reduced their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Guggenheim upped their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Raymond James boosted their price objective 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. Finally, Truist Financial boosted their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.31.

AbbVie Trading Down 1.3 %

The company has a market cap of $284.10 billion, a P/E ratio of 47.55, a PEG ratio of 2.07 and a beta of 0.61. The firm’s 50 day moving average is $172.48 and its two-hundred day moving average is $161.62. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBV) last announced its 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 return on equity of 165.18% and a net margin of 11.02%. The business had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the prior year, the business posted $2.46 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. As a group, equities research analysts anticipate that AbbVie Inc. will post 11.29 EPS for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is 183.98%.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the sale, the executive vice president now directly owns 55,903 shares in the company, valued at $9,855,698.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock valued at $67,780,003 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Institutional Trading of AbbVie

A number of hedge funds and other institutional investors have recently bought and sold shares of ABBV. Brighton Jones LLC boosted its holdings in AbbVie by 13.6% during the third quarter. Brighton Jones LLC now owns 18,127 shares of the company’s stock worth $2,702,000 after purchasing an additional 2,168 shares during the last quarter. WESPAC Advisors LLC increased its position in shares of AbbVie by 4.9% during the third quarter. WESPAC Advisors LLC now owns 12,720 shares of the company’s stock valued at $1,896,000 after acquiring an additional 593 shares during the last quarter. Calamos Wealth Management LLC lifted its holdings in AbbVie by 3.3% during the third quarter. Calamos Wealth Management LLC now owns 11,994 shares of the company’s stock worth $1,788,000 after acquiring an additional 379 shares during the period. Baystate Wealth Management LLC boosted its position in AbbVie by 5.5% in the third quarter. Baystate Wealth Management LLC now owns 4,297 shares of the company’s stock worth $641,000 after purchasing an additional 225 shares during the last quarter. Finally, Macroview Investment Management LLC boosted its position in AbbVie by 39.0% in the third quarter. Macroview Investment Management LLC now owns 563 shares of the company’s stock worth $84,000 after purchasing an additional 158 shares during the last quarter. Institutional investors 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.