AbbVie (NYSE:ABBV) Trading Down 1.1% - Should You Sell?

Key Points

• AbbVie Inc. shares fell by 1.1%, trading at $220.11, with a notable decline in trading volume of 22% compared to its average session.
• Analysts have positive outlooks for AbbVie, with Evercore ISI and BMO Capital Markets issuing "outperform" ratings and raising price targets, while the company maintains an average rating of "Moderate Buy".
• AbbVie announced a quarterly dividend of $1.64 per share, reflecting an annualized yield of 3.0% and a high payout ratio of 312.38%.

AbbVie Inc. (NYSE:ABBV - Get Free Report) fell 1.1% on Wednesday . The stock traded as low as $218.54 and last traded at $220.11. 5,068,872 shares were traded during trading, a decline of 22% from the average session volume of 6,463,112 shares. The stock had previously closed at $222.61.

Analyst Ratings Changes

ABBV has been the subject of a number of analyst reports. Evercore ISI raised their price target on AbbVie from $207.00 to $222.00 and gave the stock an "outperform" rating in a report on Monday. Citigroup raised their price target on AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. BMO Capital Markets raised their price target on AbbVie from $215.00 to $240.00 and gave the stock an "outperform" rating in a report on Friday, September 12th. Raymond James Financial reaffirmed an "outperform" rating on shares of AbbVie in a report on Monday, August 25th. Finally, Cantor Fitzgerald raised their price target on AbbVie from $215.00 to $245.00 and gave the stock an "overweight" rating in a report on Monday, September 15th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and a consensus target price of $223.45.

AbbVie Stock Down 1.1%

The company has a market cap of $388.84 billion, a P/E ratio of 104.81, a price-to-earnings-growth ratio of 1.33 and a beta of 0.53. The company has a 50 day moving average of $204.47 and a 200-day moving average of $195.04. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the prior year, the business posted $2.65 EPS. AbbVie's quarterly revenue was up 6.6% on a year-over-year basis. On average, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie's payout ratio is 312.38%.

Insider Buying and Selling

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of the transaction, the executive vice president owned 177,292 shares of the company's stock, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the transaction, the executive vice president directly owned 58,247 shares of the company's stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall & Sullivan Inc. WA bought a new position in AbbVie in the 2nd quarter valued at approximately $25,000. Evolution Wealth Management Inc. bought a new position in AbbVie in the 2nd quarter valued at approximately $26,000. TD Capital Management LLC lifted its position in AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company's stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Spurstone Advisory Services LLC bought a new position in AbbVie in the 2nd quarter valued at approximately $28,000. Finally, Abound Financial LLC bought a new position in AbbVie in the 1st quarter valued at approximately $30,000. 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.

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