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

Shares of AbbVie Inc. (NYSE:ABBV) traded down 0.2% during trading on Wednesday . The stock traded as low as $191.95 and last traded at $192.70. 516,802 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 5,305,573 shares. The stock had previously closed at $193.01.

Analyst Ratings Changes

ABBV has been the subject of several analyst reports. Piper Sandler raised their price target on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Barclays lifted their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday. TD Cowen upped their price target on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research report on Wednesday, July 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $194.67.

AbbVie Trading Up 0.3 %

The firm has a market cap of $341.70 billion, a P/E ratio of 57.18, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63. The firm’s 50-day simple moving average is $193.70 and its 200 day simple moving average is $177.05. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. 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 business earned $2.91 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. As a group, analysts expect that AbbVie Inc. will post 10.86 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s payout ratio is 183.98%.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction dated 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 transaction, the chairman now directly owns 513,099 shares in the company, valued at approximately $89,792,325. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the sale, the chairman now owns 513,099 shares of the company’s stock, valued at $89,792,325. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of AbbVie

A number of institutional investors have recently made changes to their positions in ABBV. Cullen Capital Management LLC boosted its holdings in shares of AbbVie by 7.2% during the fourth quarter. Cullen Capital Management LLC now owns 3,474 shares of the company’s stock worth $538,000 after purchasing an additional 234 shares during the period. Bellevue Group AG grew its position in shares of AbbVie by 41.2% in the 4th quarter. Bellevue Group AG now owns 6,727 shares of the company’s stock worth $1,042,000 after buying an additional 1,964 shares during the last quarter. MGO One Seven LLC grew its position in shares of AbbVie by 16.7% in the 4th quarter. MGO One Seven LLC now owns 27,003 shares of the company’s stock worth $4,185,000 after buying an additional 3,868 shares during the last quarter. BOKF NA increased its stake in shares of AbbVie by 5.2% during the fourth quarter. BOKF NA now owns 319,340 shares of the company’s stock valued at $49,488,000 after buying an additional 15,642 shares during the period. Finally, Ethic Inc. lifted its stake in AbbVie by 10.2% in the fourth quarter. Ethic Inc. now owns 38,570 shares of the company’s stock worth $5,977,000 after acquiring an additional 3,574 shares during the period. 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.