AbbVie (NYSE:ABBV) Trading 0% Higher

AbbVie Inc. (NYSE:ABBV) shares traded up 0% on Wednesday . The stock traded as high as $163.23 and last traded at $162.66. 781,250 shares were traded during mid-day trading, a decline of 86% from the average session volume of 5,603,236 shares. The stock had previously closed at $162.64.

Analyst Ratings Changes

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

AbbVie Trading Up 0.3 %

The stock’s fifty day moving average price is $174.01 and its 200 day moving average price is $161.10. 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 stock has a market capitalization of $288.72 billion, a P/E ratio of 48.27, a PEG ratio of 2.04 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the business posted $2.46 earnings per share. Research analysts forecast that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Insider Buying and Selling

In related news, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the sale, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the sale, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 over the last three months. 0.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On AbbVie

Several hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of AbbVie by 20.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 722,755 shares of the company’s stock valued at $123,227,000 after acquiring an additional 122,846 shares in the last quarter. Horan Capital Advisors LLC. increased its holdings in shares of AbbVie by 0.5% during the first quarter. Horan Capital Advisors LLC. now owns 17,964 shares of the company’s stock valued at $3,271,000 after acquiring an additional 86 shares in the last quarter. BOK Financial Private Wealth Inc. increased its holdings in shares of AbbVie by 6.1% during the first quarter. BOK Financial Private Wealth Inc. now owns 6,097 shares of the company’s stock valued at $1,110,000 after acquiring an additional 352 shares in the last quarter. Prosperity Consulting Group LLC increased its holdings in shares of AbbVie by 237.5% during the first quarter. Prosperity Consulting Group LLC now owns 30,274 shares of the company’s stock valued at $5,513,000 after acquiring an additional 21,304 shares in the last quarter. Finally, Avior Wealth Management LLC increased its holdings in shares of AbbVie by 7.1% during the first quarter. Avior Wealth Management LLC now owns 48,777 shares of the company’s stock valued at $8,882,000 after acquiring an additional 3,237 shares in the last quarter. Institutional investors and hedge funds 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.