AbbVie (NYSE:ABBV) Trading 1.4% Higher

AbbVie Inc. (NYSE:ABBV - Get Free Report)'s share price traded up 1.4% during trading on Monday . The company traded as high as $168.95 and last traded at $168.74. 1,005,632 shares were traded during trading, a decline of 82% from the average session volume of 5,574,263 shares. The stock had previously closed at $166.41.

Analysts Set New Price Targets

ABBV has been the subject of several research analyst reports. Truist Financial upped their price target on shares of AbbVie from $180.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, February 6th. William Blair upgraded AbbVie from a "market perform" rating to an "outperform" rating in a report on Monday, January 29th. Guggenheim raised their price objective on AbbVie from $188.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, March 22nd. BMO Capital Markets lifted their price objective on AbbVie from $187.00 to $195.00 and gave the company an "outperform" rating in a research note on Monday, February 5th. Finally, Barclays raised their price target on shares of AbbVie from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Wednesday, March 27th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $177.43.

AbbVie Stock Performance

The firm has a market capitalization of $297.36 billion, a price-to-earnings ratio of 61.76, a P/E/G ratio of 2.14 and a beta of 0.58. The company has a 50-day moving average price of $175.44 and a 200-day moving average price of $160.28. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.76 by $0.03. The firm had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. AbbVie's revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.60 EPS. As a group, equities research analysts forecast that AbbVie Inc. will post 11.16 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.69%. AbbVie's dividend payout ratio (DPR) is 227.11%.

Insider Buying and Selling

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm's stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares of the company's stock, valued at $42,375,512.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other AbbVie news, CFO Scott T. Reents sold 14,140 shares of the company's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the completion of the sale, the chief financial officer now directly owns 27,065 shares in the company, valued at $4,802,413.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business's stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock worth $67,780,003 in the last three months. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AbbVie

A number of hedge funds and other institutional investors have recently bought and sold shares of ABBV. Norges Bank bought a new position in AbbVie during the 4th quarter worth approximately $3,229,888,000. Massachusetts Financial Services Co. MA boosted its position in shares of AbbVie by 29,922.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company's stock worth $899,186,000 after purchasing an additional 6,012,281 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of AbbVie in the 4th quarter valued at $499,955,000. Capital International Investors raised its stake in AbbVie by 6.0% during the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company's stock worth $6,971,796,000 after buying an additional 2,542,463 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in AbbVie by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company's stock worth $3,774,569,000 after acquiring an additional 1,702,415 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

About AbbVie

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.