AbbVie (NYSE:ABBV) Shares Down 0.4%

AbbVie Inc. (NYSE:ABBVGet Free Report) shares traded down 0.4% on Tuesday . The stock traded as low as $178.51 and last traded at $180.10. 1,047,348 shares were traded during mid-day trading, a decline of 81% from the average session volume of 5,585,366 shares. The stock had previously closed at $180.76.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. HSBC downgraded shares of AbbVie from a “buy” rating to a “hold” rating and lowered their target price for the company from $167.00 to $156.00 in a research note on Monday, December 18th. BMO Capital Markets lifted their price objective on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Barclays lifted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Finally, Truist Financial lifted their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

Get Our Latest Report on AbbVie

AbbVie Stock Down 1.9 %

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 business’s fifty day simple moving average is $176.07 and its two-hundred day simple moving average is $159.00. The company has a market cap of $313.99 billion, a PE ratio of 64.96, a PEG ratio of 2.30 and a beta of 0.58.

AbbVie (NYSE:ABBVGet Free Report) last released its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share 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 company had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the previous year, the company earned $3.60 earnings per share. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, analysts predict that AbbVie Inc. will post 11.15 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.50%. AbbVie’s dividend payout ratio (DPR) is 227.11%.

Insider Activity

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie 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 sale, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AbbVie

Institutional investors and hedge funds have recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC acquired a new position in AbbVie in the 4th quarter valued at about $26,000. VitalStone Financial LLC raised its stake in shares of AbbVie by 218.4% in the 2nd quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock valued at $33,000 after acquiring an additional 166 shares during the period. Able Wealth Management LLC purchased a new stake in shares of AbbVie in the 4th quarter valued at approximately $33,000. Hibernia Wealth Partners LLC purchased a new stake in shares of AbbVie in the 3rd quarter valued at approximately $36,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in AbbVie during the 4th quarter worth approximately $37,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Company Profile

(Get Free Report)

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.

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