AbbVie (NYSE:ABBV) Stock Price Up 1.3%

AbbVie Inc. (NYSE:ABBV)’s stock price was up 1.3% during trading on Tuesday . The stock traded as high as $170.16 and last traded at $170.12. Approximately 845,594 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 5,571,998 shares. The stock had previously closed at $167.89.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ABBV shares. Barclays upped their price objective on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Truist Financial increased their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Guggenheim increased their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Raymond James increased their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $177.43.

AbbVie Price Performance

The firm’s fifty day simple moving average is $175.34 and its 200 day simple moving average is $160.42. The firm has a market cap of $299.89 billion, a P/E ratio of 62.21, a P/E/G ratio of 2.14 and a beta of 0.58. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87.

AbbVie (NYSE:ABBV) last announced its quarterly 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. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The firm had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter last year, the firm earned $3.60 EPS. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, analysts forecast that AbbVie Inc. will post 11.16 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

Insider Activity at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the sale, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 383,324 shares of company stock valued at $67,780,003. Insiders own 0.25% of the company’s stock.

Institutional Trading of AbbVie

Several institutional investors have recently added to or reduced their stakes in ABBV. Lokken Investment Group LLC increased its position in shares of AbbVie by 3.6% in the 4th quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock valued at $258,000 after purchasing an additional 58 shares during the last quarter. Arcadia Investment Management Corp MI grew its position in shares of AbbVie by 0.6% in the 1st quarter. Arcadia Investment Management Corp MI now owns 9,371 shares of the company’s stock valued at $1,706,000 after buying an additional 59 shares during the last quarter. Aspen Wealth Strategies LLC grew its position in shares of AbbVie by 0.5% in the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after buying an additional 61 shares during the last quarter. Marks Group Wealth Management Inc grew its position in shares of AbbVie by 2.9% in the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock valued at $349,000 after buying an additional 63 shares during the last quarter. Finally, Spinnaker Investment Group LLC grew its position in shares of AbbVie by 1.6% in the 1st quarter. Spinnaker Investment Group LLC now owns 4,068 shares of the company’s stock valued at $741,000 after buying an additional 64 shares during the last quarter. 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.