AbbVie (NYSE:ABBV) Trading 0.5% Higher – What’s Next?

AbbVie Inc. (NYSE:ABBV) shares traded up 0.5% during trading on Tuesday . The company traded as high as $176.63 and last traded at $175.23. 2,780,022 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 5,378,220 shares. The stock had previously closed at $174.43.

Analyst Ratings Changes

A number of analysts have commented on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Citigroup cut their target price on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday. Bank of America increased their target price on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Piper Sandler increased their target price on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $203.83.

AbbVie Price Performance

The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm has a market capitalization of $299.76 billion, a P/E ratio of 58.90, a price-to-earnings-growth ratio of 2.08 and a beta of 0.63. The firm has a 50 day moving average price of $193.08 and a 200-day moving average price of $180.84.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $2.95 EPS. On average, analysts expect that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.87%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ABBV. RPg Family Wealth Advisory LLC purchased a new position in AbbVie during the 3rd quarter worth $28,000. Fairway Wealth LLC purchased a new position in AbbVie during the 2nd quarter worth $26,000. Ridgewood Investments LLC acquired a new stake in AbbVie during the 2nd quarter worth about $27,000. Marquette Asset Management LLC acquired a new stake in AbbVie during the 3rd quarter worth about $39,000. Finally, Mizuho Securities Co. Ltd. lifted its position in AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

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.