AbbVie (NYSE:ABBV) Trading Down 0.2%

AbbVie Inc. (NYSE:ABBV) shares traded down 0.2% on Friday . The stock traded as low as $194.79 and last traded at $194.84. 373,557 shares were traded during mid-day trading, a decline of 93% from the average session volume of 5,421,136 shares. The stock had previously closed at $195.18.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Piper Sandler Companies reiterated an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a report on Wednesday, July 3rd. Wells Fargo & Company lifted their price target on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Truist Financial reiterated a “buy” rating and issued a $210.00 price target (up from $195.00) on shares of AbbVie in a research note on Friday, July 26th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research note on Wednesday, June 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research note on Monday, August 5th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $191.64.

AbbVie Stock Performance

The firm has a market cap of $344.36 billion, a price-to-earnings ratio of 57.82, a price-to-earnings-growth ratio of 2.49 and a beta of 0.64. The stock’s 50 day moving average is $180.46 and its 200 day moving average is $173.62. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 186.82%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same quarter in the prior year, the business earned $2.91 EPS. AbbVie’s quarterly revenue was up 4.3% on a year-over-year basis. Analysts anticipate that AbbVie Inc. will post 10.87 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Monday, July 15th. AbbVie’s dividend payout ratio is currently 183.98%.

Insider Buying and Selling at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the transaction, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the transaction, the chairman now owns 513,099 shares of the company’s stock, valued at $89,792,325. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On AbbVie

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABBV. International Assets Investment Management LLC acquired a new stake in shares of AbbVie during the fourth quarter worth $41,416,000. Gilbert & Cook Inc. increased its position in shares of AbbVie by 9.8% during the fourth quarter. Gilbert & Cook Inc. now owns 9,691 shares of the company’s stock worth $1,502,000 after buying an additional 861 shares during the period. DiNuzzo Private Wealth Inc. acquired a new stake in shares of AbbVie during the fourth quarter worth $44,000. Rogco LP increased its position in shares of AbbVie by 19.4% during the fourth quarter. Rogco LP now owns 15,298 shares of the company’s stock worth $2,371,000 after buying an additional 2,481 shares during the period. Finally, Mechanics Financial Corp increased its position in shares of AbbVie by 1.9% during the fourth quarter. Mechanics Financial Corp now owns 15,021 shares of the company’s stock worth $2,328,000 after buying an additional 285 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

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.