AbbVie (NYSE:ABBV) Trading Down 0.2%

AbbVie Inc. (NYSE:ABBV)’s share price traded down 0.2% during trading on Wednesday . The company traded as low as $165.45 and last traded at $165.60. 649,113 shares were traded during trading, a decline of 88% from the average session volume of 5,635,115 shares. The stock had previously closed at $165.96.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Guggenheim boosted their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. BMO Capital Markets lowered their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Thursday, June 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Tuesday. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.07.

AbbVie Price Performance

The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The company has a 50 day moving average price of $164.58 and a 200 day moving average price of $167.82. The firm has a market cap of $289.39 billion, a PE ratio of 48.66, a PEG ratio of 2.19 and a beta of 0.64.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. AbbVie’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.46 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.78%. The ex-dividend date is Monday, July 15th. AbbVie’s payout ratio is 183.98%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ABBV. Norges Bank purchased a new position in shares of AbbVie in the fourth quarter valued at $3,229,888,000. Vanguard Group Inc. boosted its stake in shares of AbbVie by 6.2% during the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after acquiring an additional 9,978,415 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of AbbVie during the fourth quarter valued at $499,955,000. Capital World Investors boosted its stake in shares of AbbVie by 249.1% during the first quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock valued at $796,357,000 after acquiring an additional 3,120,310 shares during the last quarter. Finally, Capital International Investors boosted its stake in shares of AbbVie by 6.9% during the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock valued at $8,758,789,000 after acquiring an additional 3,110,601 shares during the last quarter. Hedge funds and other 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.