AbbVie (NYSE:ABBV) Trading Down 0%

Shares of AbbVie Inc. (NYSE:ABBV) were down 0% during trading on Thursday . The company traded as low as $191.96 and last traded at $192.85. Approximately 756,578 shares were traded during trading, a decline of 86% from the average daily volume of 5,336,996 shares. The stock had previously closed at $192.94.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. William Blair upgraded AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Piper Sandler lifted their price target on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Morgan Stanley upped their price objective on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Finally, Barclays lifted their target price on AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie currently has a consensus rating of “Buy” and an average price target of $191.64.

AbbVie Stock Performance

The firm’s fifty day simple moving average is $189.35 and its 200 day simple moving average is $175.82. The company has a market capitalization of $341.62 billion, a price-to-earnings ratio of 57.41, a PEG ratio of 2.66 and a beta of 0.64. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS 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 firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same quarter last year, the business posted $2.91 EPS. The company’s revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts forecast that AbbVie Inc. will post 10.86 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.20%. The ex-dividend date is Tuesday, October 15th. AbbVie’s payout ratio is 183.98%.

Insider Buying and Selling

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

Institutional Investors Weigh In On AbbVie

Large investors have recently made changes to their positions in the company. Gilbert & Cook Inc. boosted its holdings in 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 purchasing an additional 861 shares in the last quarter. Aveo Capital Partners LLC lifted its position in shares of AbbVie by 5.1% in the fourth quarter. Aveo Capital Partners LLC now owns 4,297 shares of the company’s stock worth $666,000 after buying an additional 210 shares during the last quarter. 9258 Wealth Management LLC boosted its stake 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 worth $2,620,000 after acquiring an additional 283 shares in the last quarter. Gryphon Financial Partners LLC increased its holdings in shares of 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 acquiring an additional 1,531 shares during the last quarter. Finally, SageView Advisory Group LLC increased its holdings in shares of AbbVie by 73.7% during the 4th quarter. SageView Advisory Group LLC now owns 22,298 shares of the company’s stock valued at $3,677,000 after acquiring an additional 9,460 shares during the last quarter. 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.