AbbVie (NYSE:ABBV) Trading Down 0.3%

AbbVie Inc. (NYSE:ABBV) fell 0.3% on Monday . The stock traded as low as $168.21 and last traded at $168.23. 463,006 shares were traded during trading, a decline of 92% from the average session volume of 5,554,840 shares. The stock had previously closed at $168.73.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ABBV. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a report on Wednesday, June 5th. Guggenheim lifted their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Morgan Stanley lifted their target price on AbbVie from $191.00 to $196.00 and gave the stock an “overweight” rating in a report on Thursday. Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 target price on shares of AbbVie in a report on Wednesday, July 3rd. Finally, Piper Sandler reissued an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $182.69.

AbbVie Trading Down 1.4 %

The stock has a market cap of $296.60 billion, a P/E ratio of 49.92, a PEG ratio of 2.19 and a beta of 0.64. The firm’s fifty day moving average price is $165.23 and its two-hundred day moving average price is $168.58. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate 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 179.47%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.46 earnings per share. As a group, equities research analysts forecast that AbbVie Inc. will post 10.8 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.69%. AbbVie’s dividend payout ratio is presently 183.98%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in 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 buying an additional 9,978,415 shares during the period. Capital International Investors boosted its position in 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 buying an additional 3,110,601 shares during the period. Capital Research Global Investors boosted its position in AbbVie by 3.3% during the first quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock valued at $5,698,847,000 after buying an additional 992,496 shares during the period. Charles Schwab Investment Management Inc. boosted its position in AbbVie by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after buying an additional 1,702,415 shares during the period. Finally, Norges Bank purchased a new stake in AbbVie during the fourth quarter valued at about $3,229,888,000. Institutional investors own 70.23% of the company’s stock.

About AbbVie

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.