AbbVie (NYSE:ABBV) Trading Down 0.1% – What’s Next?

AbbVie Inc. (NYSE:ABBV) was down 0.1% during trading on Tuesday . The company traded as low as $187.05 and last traded at $189.88. Approximately 1,743,638 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 6,159,778 shares. The stock had previously closed at $190.14.

Analysts Set New Price Targets

Several equities research analysts recently commented on ABBV shares. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a report on Friday, November 22nd. Raymond James reissued an “outperform” rating and issued a $220.00 target price (up from $218.00) on shares of AbbVie in a research report on Monday. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Finally, Guggenheim increased their price objective on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Stock Performance

The stock has a 50 day moving average of $176.84 and a two-hundred day moving average of $185.26. The stock has a market capitalization of $335.44 billion, a PE ratio of 79.09, a P/E/G ratio of 1.84 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter last year, the business earned $2.79 EPS. Research analysts expect that AbbVie Inc. will post 12.26 EPS for the current fiscal year.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On AbbVie

Several large investors have recently modified their holdings of the stock. Groupama Asset Managment lifted its holdings in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in AbbVie during the 3rd quarter valued at about $28,000. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie in the 4th quarter worth $29,000. Retirement Wealth Solutions LLC acquired a new stake in AbbVie during the fourth quarter valued at approximately $35,000. Finally, Marquette Asset Management LLC purchased a new position in AbbVie in the 3rd quarter worth about $39,000. 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.