AbbVie (NYSE:ABBV) Stock Price Up 1%

Shares of AbbVie Inc. (NYSE:ABBV) shot up 1% on Friday . The stock traded as high as $163.23 and last traded at $162.35. 1,124,555 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 5,605,471 shares. The stock had previously closed at $160.81.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Guggenheim lifted their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets reduced their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday. Barclays lowered their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Finally, Truist Financial lifted their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $174.31.

AbbVie Stock Performance

The stock has a 50 day moving average of $173.42 and a two-hundred day moving average of $161.10. The stock has a market capitalization of $290.05 billion, a PE ratio of 48.60, a P/E/G ratio of 2.04 and a beta of 0.61. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The business’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.46 EPS. Research analysts expect that AbbVie Inc. will post 11.29 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is currently 183.98%.

Insiders Place Their Bets

In other news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Nicholas Donoghoe sold 21,082 shares of the 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 sale, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is owned by corporate insiders.

Institutional Trading of AbbVie

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vermillion & White Wealth Management Group LLC purchased a new stake in AbbVie in the 4th quarter worth approximately $26,000. Able Wealth Management LLC acquired a new position in AbbVie in the fourth quarter valued at $33,000. IFS Advisors LLC purchased a new position in AbbVie during the first quarter worth about $36,000. Ables Iannone Moore & Associates Inc. acquired a new stake in AbbVie in the 4th quarter worth about $37,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in AbbVie in the 1st quarter valued at about $37,000. 70.23% of the stock is currently owned by hedge funds and other 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.