AbbVie (NYSE:ABBV) Stock Price Up 0.2% - Here's Why

Shares of AbbVie Inc. (NYSE:ABBV - Get Free Report) rose 0.2% during mid-day trading on Monday . The company traded as high as $185.00 and last traded at $184.41. Approximately 982,249 shares were traded during trading, a decline of 84% from the average daily volume of 6,227,264 shares. The stock had previously closed at $184.02.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ABBV shares. Bank of America lifted their price target on shares of AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. BMO Capital Markets lifted their price target on shares of AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. StockNews.com upgraded shares of AbbVie from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th. The Goldman Sachs Group reiterated a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Finally, Cantor Fitzgerald started coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $210.95.

AbbVie Trading Up 0.9%

The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The company has a market capitalization of $327.92 billion, a P/E ratio of 77.35, a PEG ratio of 1.62 and a beta of 0.56. The business has a 50 day moving average price of $191.30 and a 200 day moving average price of $186.85.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. During the same period in the prior year, the business posted $2.31 EPS. AbbVie's revenue was up 8.4% on a year-over-year basis. Analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares of the company's stock, valued at $11,183,398.72. This represents a 52.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now directly owns 11,496 shares of the company's stock, valued at approximately $2,338,401.36. This trade represents a 62.23% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 113,471 shares of company stock valued at $23,426,451. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AbbVie

Hedge funds and other institutional investors have recently modified their holdings of the company. Tallon Kerry Patrick bought a new stake in AbbVie in the fourth quarter valued at approximately $309,000. Capital & Planning LLC boosted its holdings in shares of AbbVie by 1.7% during the 4th quarter. Capital & Planning LLC now owns 6,239 shares of the company's stock worth $1,109,000 after buying an additional 105 shares in the last quarter. Avanza Fonder AB bought a new position in shares of AbbVie during the 4th quarter worth approximately $1,500,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its holdings in shares of AbbVie by 5.4% during the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 4,242 shares of the company's stock worth $754,000 after buying an additional 217 shares in the last quarter. Finally, Integrated Investment Consultants LLC boosted its holdings in shares of AbbVie by 5.1% during the 4th quarter. Integrated Investment Consultants LLC now owns 177,739 shares of the company's stock worth $31,584,000 after buying an additional 8,550 shares in the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.