AbbVie (NYSE:ABBV) Trading Down 1.3% - Here's Why

Shares of AbbVie Inc. (NYSE:ABBV - Get Free Report) fell 1.3% on Monday . The stock traded as low as $196.09 and last traded at $195.98. 672,668 shares changed hands during trading, a decline of 89% from the average session volume of 6,060,882 shares. The stock had previously closed at $198.47.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ABBV. Morgan Stanley upped their price target on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Citigroup increased their target price on shares of AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. UBS Group upped their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Finally, Evercore ISI lifted their target price on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Six investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.41.

AbbVie Price Performance

The stock has a market cap of $347.09 billion, a price-to-earnings ratio of 81.82, a PEG ratio of 1.62 and a beta of 0.56. The company's 50 day moving average is $196.14 and its 200 day moving average is $187.22. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

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, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the previous year, the company earned $2.31 EPS. The company's quarterly revenue was up 8.4% on a year-over-year basis. Research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is presently 279.15%.

Insider Activity at AbbVie

In other news, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,471 shares of company stock valued at $23,426,451. Insiders own 0.25% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABBV. Fiduciary Advisors Inc. purchased a new stake in AbbVie in the 4th quarter worth approximately $29,000. EnRich Financial Partners LLC grew its position in shares of AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares during the period. Promus Capital LLC acquired a new position in AbbVie in the fourth quarter valued at $30,000. Abound Financial LLC purchased a new position in AbbVie during the first quarter worth about $30,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie in the 4th quarter worth about $31,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

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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