AbbVie (NYSE:ABBV) Trading Down 0.2% – What’s Next?

Shares of AbbVie Inc. (NYSE:ABBV) fell 0.2% during trading on Wednesday . The company traded as low as $200.34 and last traded at $205.78. 1,733,863 shares changed hands during trading, a decline of 70% from the average session volume of 5,727,629 shares. The stock had previously closed at $206.27.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several analyst reports. Raymond James reiterated an “outperform” rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Guggenheim raised their target price on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Truist Financial upped their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

AbbVie Stock Down 0.8 %

The business has a 50-day moving average price of $198.94 and a 200 day moving average price of $189.11. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a market capitalization of $362.04 billion, a P/E ratio of 85.28, a P/E/G ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the previous year, the firm earned $2.79 earnings per share. On average, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the transaction, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. The trade was a 62.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the sale, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,639 shares of company stock valued at $11,067,025. 0.08% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AbbVie

Hedge funds have recently bought and sold shares of the business. Groupama Asset Managment increased its stake in AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares during the period. Fiduciary Advisors Inc. purchased a new position in shares of AbbVie during the fourth quarter worth approximately $29,000. EnRich Financial Partners LLC raised its stake in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after acquiring an additional 110 shares in the last quarter. Promus Capital LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at approximately $30,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at approximately $31,000. 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.