AbbVie (NYSE:ABBV) Trading Up 0.3% - Should You Buy?

AbbVie Inc. (NYSE:ABBV - Get Free Report) shares were up 0.3% during trading on Friday . The company traded as high as $182.74 and last traded at $182.23. Approximately 1,651,467 shares were traded during trading, a decline of 73% from the average daily volume of 6,218,535 shares. The stock had previously closed at $181.68.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. StockNews.com raised AbbVie from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 28th. BMO Capital Markets lifted their price objective on AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Raymond James reaffirmed an "outperform" rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Finally, Truist Financial lifted their price target on AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $210.95.

AbbVie Stock Performance

The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The business has a 50-day moving average price of $191.89 and a 200 day moving average price of $187.11. The stock has a market capitalization of $324.10 billion, a P/E ratio of 76.34, a PEG ratio of 1.62 and a beta of 0.56.

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

Insiders Place Their Bets

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total value 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 approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. This trade represents a 62.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,471 shares of company stock worth $23,426,451. Corporate insiders own 0.25% of the company's stock.

Institutional Trading of AbbVie

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABBV. Blue Bell Private Wealth Management LLC increased its holdings in AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock valued at $40,000 after buying an additional 52 shares during the period. Steel Grove Capital Advisors LLC boosted its stake in AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock valued at $553,000 after acquiring an additional 52 shares in the last quarter. Peninsula Wealth LLC boosted its stake in AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock valued at $242,000 after acquiring an additional 54 shares in the last quarter. Private Management Group Inc. boosted its stake in AbbVie by 1.9% in the first quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock valued at $616,000 after acquiring an additional 54 shares in the last quarter. Finally, Physicians Financial Services Inc. boosted its stake in AbbVie by 0.5% in the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock valued at $2,159,000 after acquiring an additional 55 shares in the last quarter. 70.23% of the stock is 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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