AbbVie (NYSE:ABBV) Trading 0.2% Higher

AbbVie Inc. (NYSE:ABBV) traded up 0.2% on Wednesday . The company traded as high as $194.55 and last traded at $193.80. 526,974 shares changed hands during trading, a decline of 90% from the average session volume of 5,347,063 shares. The stock had previously closed at $193.45.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ABBV shares. BMO Capital Markets raised their price target on AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Wells Fargo & Company boosted their price objective on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Truist Financial reissued a “buy” rating and issued a $210.00 price target (up from $195.00) on shares of AbbVie in a report on Friday, July 26th. Morgan Stanley increased their price objective on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $191.64.

AbbVie Stock Up 0.4 %

The stock has a fifty day moving average of $187.92 and a 200-day moving average of $175.46. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The firm has a market capitalization of $342.90 billion, a price-to-earnings ratio of 57.51, a PEG ratio of 2.66 and a beta of 0.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same period in the previous year, the company earned $2.91 earnings per share. AbbVie’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, sell-side analysts expect that AbbVie Inc. will post 10.86 EPS for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.19%. The ex-dividend date is Tuesday, October 15th. AbbVie’s payout ratio is 183.98%.

Insider Transactions at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the sale, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the sale, the chairman now directly owns 513,099 shares of the company’s stock, valued at $89,792,325. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the transaction, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Institutional Trading of AbbVie

A number of hedge funds and other institutional investors have recently bought and sold shares of ABBV. Gilbert & Cook Inc. grew its stake in shares of AbbVie by 9.8% in the fourth quarter. Gilbert & Cook Inc. now owns 9,691 shares of the company’s stock worth $1,502,000 after acquiring an additional 861 shares during the last quarter. Aveo Capital Partners LLC grew its position in shares of AbbVie by 5.1% during the fourth quarter. Aveo Capital Partners LLC now owns 4,297 shares of the company’s stock valued at $666,000 after purchasing an additional 210 shares in the last quarter. 9258 Wealth Management LLC raised its position in shares of AbbVie by 1.7% during the 4th quarter. 9258 Wealth Management LLC now owns 16,909 shares of the company’s stock valued at $2,620,000 after buying an additional 283 shares in the last quarter. Gryphon Financial Partners LLC raised its holdings in AbbVie by 1.9% during the 4th quarter. Gryphon Financial Partners LLC now owns 84,249 shares of the company’s stock valued at $12,972,000 after buying an additional 1,531 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its position in shares of AbbVie by 36.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 1,232 shares of the company’s stock valued at $191,000 after buying an additional 330 shares during the period. 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.