AbbVie (NYSE:ABBV) Trading Down 0.9%

AbbVie Inc. (NYSE:ABBVGet Free Report)’s share price dropped 0.9% during trading on Wednesday . The stock traded as low as $178.91 and last traded at $178.98. Approximately 1,163,657 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 5,571,372 shares. The stock had previously closed at $180.69.

Analysts Set New Price Targets

ABBV has been the topic of several research analyst reports. The Goldman Sachs Group upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price objective on the stock in a research note on Monday, December 11th. Guggenheim boosted 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. Raymond James boosted their target price on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Barclays boosted their target price on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Finally, Truist Financial boosted their target price on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Four equities 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. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $177.43.

Get Our Latest Stock Report on ABBV

AbbVie Trading Down 1.9 %

The stock has a market cap of $313.92 billion, a P/E ratio of 65.56, a PEG ratio of 2.30 and a beta of 0.58. The firm’s fifty day moving average price is $175.80 and its two-hundred day moving average price is $158.87. 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:ABBVGet Free Report) last released its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. The business had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.60 earnings per share. As a group, equities research analysts forecast that AbbVie Inc. will post 11.15 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.50%. AbbVie’s dividend payout ratio is presently 227.11%.

Insider Activity at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the sale, the executive vice president now directly owns 60,941 shares in the company, valued at $10,895,641.39. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the transaction, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Perry C. Siatis sold 13,753 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $177.51, for a total transaction of $2,441,295.03. Following the completion of the transaction, the executive vice president now directly owns 28,173 shares of the company’s stock, valued at $5,000,989.23. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock valued at $67,780,003 over the last 90 days. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On AbbVie

A number of institutional investors and hedge funds have recently made changes to their positions in ABBV. Retirement Income Solutions Inc bought a new position in shares of AbbVie during the first quarter valued at approximately $204,000. Ergoteles LLC increased its position in shares of AbbVie by 17.8% during the first quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock valued at $909,000 after acquiring an additional 847 shares in the last quarter. First Western Trust Bank bought a new stake in shares of AbbVie during the first quarter valued at approximately $1,150,000. Wsfs Capital Management LLC bought a new stake in shares of AbbVie during the first quarter valued at approximately $562,000. Finally, Bridgewater Associates LP increased its position in shares of AbbVie by 80.4% during the first quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock valued at $12,242,000 after acquiring an additional 33,661 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

About AbbVie

(Get Free Report)

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.

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