AbbVie (NYSE:ABBV) Trading Down 1.4%

AbbVie Inc. (NYSE:ABBV) fell 1.4% on Monday . The company traded as low as $161.00 and last traded at $161.47. 1,761,892 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 5,615,306 shares. The stock had previously closed at $163.79.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Truist Financial upped their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Barclays cut their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. BMO Capital Markets lowered their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Finally, Guggenheim upped their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $174.31.

AbbVie Price Performance

The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The business’s 50 day moving average price is $172.48 and its two-hundred day moving average price is $161.62. The stock has a market cap of $283.25 billion, a P/E ratio of 47.60, a price-to-earnings-growth ratio of 2.07 and a beta of 0.61.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The firm had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the previous year, the business posted $2.46 EPS. The company’s quarterly revenue was up .7% on a year-over-year basis. As a group, sell-side analysts expect that AbbVie Inc. will post 11.29 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared 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. This represents a $6.20 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio is presently 183.98%.

Insiders Place Their Bets

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Scott T. Reents sold 14,140 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the completion of the transaction, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at $4,802,413.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,324 shares of company stock valued at $67,780,003. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On AbbVie

A number of large investors have recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC bought a new stake in AbbVie during the fourth quarter valued at about $26,000. IFS Advisors LLC purchased a new position in shares of AbbVie in the first quarter valued at about $36,000. Redmont Wealth Advisors LLC bought a new position in shares of AbbVie in the first quarter worth about $37,000. Able Wealth Management LLC purchased a new stake in shares of AbbVie during the fourth quarter worth about $33,000. Finally, Valued Wealth Advisors LLC raised its stake in AbbVie by 111.1% during the 1st quarter. Valued Wealth Advisors LLC now owns 228 shares of the company’s stock valued at $42,000 after purchasing an additional 120 shares during the period. 70.23% of the stock is currently owned by institutional investors.

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.