AbbVie (NYSE:ABBV) Shares Up 1.3%

AbbVie Inc. (NYSE:ABBV - Get Free Report) shot up 1.3% on Tuesday . The company traded as high as $170.16 and last traded at $170.12. 845,594 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 5,571,998 shares. The stock had previously closed at $167.89.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ABBV. Guggenheim upped their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, March 22nd. Barclays increased their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 27th. Raymond James increased their target price on shares of AbbVie from $181.00 to $189.00 and gave the stock an "outperform" rating in a research report on Monday, February 5th. Truist Financial increased their target price 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. Finally, BMO Capital Markets increased their target price on shares of AbbVie from $187.00 to $195.00 and gave the stock an "outperform" rating in a research report on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $177.43.

AbbVie Price Performance

The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The stock's fifty day simple moving average is $175.26 and its 200-day simple moving average is $160.57. The company has a market capitalization of $300.20 billion, a P/E ratio of 62.10, a PEG ratio of 2.14 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business had revenue of $14.30 billion during the quarter, compared to analysts' expectations of $14.02 billion. During the same quarter last year, the company earned $3.60 earnings per share. The firm's revenue was down 5.4% on a year-over-year basis. On average, equities analysts forecast that AbbVie Inc. will post 11.16 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie's payout ratio is presently 227.11%.

Insider Activity at AbbVie

In related news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the sale, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the firm's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kevin K. Buckbee sold 5,144 shares of the firm's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the transaction, the senior vice president now owns 6,983 shares of the company's stock, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 383,324 shares of company stock worth $67,780,003. Company insiders own 0.25% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABBV. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $26,000. IFS Advisors LLC acquired a new stake in shares of AbbVie in the first quarter valued at approximately $36,000. Redmont Wealth Advisors LLC acquired a new stake in shares of AbbVie in the first quarter valued at approximately $37,000. Able Wealth Management LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $33,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $37,000. 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.