AbbVie (NYSE:ABBV) Trading Down 0.3%

Shares of AbbVie Inc. (NYSE:ABBV) fell 0.3% during trading on Friday . The company traded as low as $192.19 and last traded at $193.12. 1,759,863 shares were traded during mid-day trading, a decline of 67% from the average session volume of 5,334,773 shares. The stock had previously closed at $193.62.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ABBV shares. Truist Financial reissued a “buy” rating and set a $210.00 price objective (up from $195.00) on shares of AbbVie in a research report on Friday, July 26th. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Wednesday, June 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research report on Monday, August 5th. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research report on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, AbbVie currently has a consensus rating of “Buy” and an average target price of $191.64.

AbbVie Stock Down 0.6 %

The company has a 50-day moving average of $188.89 and a 200-day moving average of $175.71. 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 company has a market capitalization of $339.84 billion, a price-to-earnings ratio of 57.31, a price-to-earnings-growth ratio of 2.66 and a beta of 0.64.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.91 earnings per share. On average, equities analysts predict that AbbVie Inc. will post 10.86 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio is currently 183.98%.

Insiders Place Their Bets

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’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 value of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related 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 sale, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On AbbVie

A number of large investors have recently modified their holdings of ABBV. Vermillion & White Wealth Management Group LLC acquired a new position in AbbVie during the fourth quarter worth $26,000. Fairway Wealth LLC acquired a new position in shares of AbbVie during the 2nd quarter valued at about $26,000. Ridgewood Investments LLC purchased a new stake in shares of AbbVie in the second quarter valued at about $27,000. Able Wealth Management LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at about $33,000. Finally, IFS Advisors LLC acquired a new stake in AbbVie during the first quarter worth about $36,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

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.