AbbVie (NYSE:ABBV) Trading Down 0.9%

AbbVie Inc. (NYSE:ABBV) shares traded down 0.9% during mid-day trading on Wednesday . The company traded as low as $166.74 and last traded at $168.08. 709,865 shares were traded during trading, a decline of 87% from the average session volume of 5,552,454 shares. The stock had previously closed at $169.54.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Truist Financial boosted their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Barclays boosted their price target on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Raymond James boosted their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $177.43.

AbbVie Trading Down 0.3 %

The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The company has a market cap of $296.19 billion, a price-to-earnings ratio of 61.27, a price-to-earnings-growth ratio of 2.16 and a beta of 0.58. The business has a 50 day simple moving average of $174.94 and a 200 day simple moving average of $160.67.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same quarter in the prior year, the firm posted $3.60 earnings per share. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, equities analysts forecast that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

Insider Activity

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was 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 owns 60,941 shares in the company, valued at $10,895,641.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock valued at $67,780,003 over the last 90 days. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On AbbVie

Large investors have recently modified their holdings of the business. Chicago Partners Investment Group LLC lifted its stake in AbbVie by 12.5% in the 1st quarter. Chicago Partners Investment Group LLC now owns 29,786 shares of the company’s stock valued at $5,050,000 after acquiring an additional 3,316 shares in the last quarter. Mesirow Financial Investment Management Inc. bought a new position in shares of AbbVie in the 1st quarter valued at about $32,818,000. LifePro Asset Management acquired a new stake in shares of AbbVie in the first quarter valued at about $248,000. TI Trust Inc. acquired a new stake in shares of AbbVie in the first quarter valued at about $307,000. Finally, Petredis Investment Advisors LLC increased its position in shares of AbbVie by 1.8% in the first quarter. Petredis Investment Advisors LLC now owns 21,974 shares of the company’s stock valued at $4,001,000 after acquiring an additional 389 shares during the last quarter. 70.23% of the stock is currently owned by 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.