AbbVie (NYSE:ABBV) Trading Down 3.8%

AbbVie Inc. (NYSE:ABBV)’s stock price traded down 3.8% during mid-day trading on Friday . The company traded as low as $160.36 and last traded at $160.91. 3,284,664 shares changed hands during trading, a decline of 41% from the average session volume of 5,563,898 shares. The stock had previously closed at $167.29.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Barclays raised their price objective on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Guggenheim raised their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. BMO Capital Markets raised their price objective on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Truist Financial raised their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $177.43.

AbbVie Stock Performance

The firm has a 50-day simple moving average of $174.59 and a two-hundred day simple moving average of $160.82. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The company has a market capitalization of $282.63 billion, a price-to-earnings ratio of 58.47, a P/E/G ratio of 2.13 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $2.46 EPS. On average, sell-side analysts anticipate that AbbVie Inc. will post 11.19 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is presently 227.11%.

Insider Activity

In related news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the sale, the chief executive officer now owns 519,099 shares in the company, valued at $92,020,679.73. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the sale, the chief executive officer now owns 519,099 shares in the company, valued at $92,020,679.73. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’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 sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AbbVie

Institutional investors have recently added to or reduced their stakes in the business. Vermillion & White Wealth Management Group LLC purchased a new stake in AbbVie in the fourth quarter valued at approximately $26,000. Able Wealth Management LLC purchased a new stake in AbbVie in the fourth quarter valued at approximately $33,000. IFS Advisors LLC purchased a new stake in AbbVie in the first quarter valued at approximately $36,000. Ables Iannone Moore & Associates Inc. purchased a new stake in AbbVie in the fourth quarter valued at approximately $37,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in AbbVie in the first quarter valued at approximately $37,000. Hedge funds and other 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.