AbbVie (NYSE:ABBV) Shares Up 0.3%

AbbVie Inc. (NYSE:ABBV - Get Free Report) shares rose 0.3% on Tuesday . The company traded as high as $162.27 and last traded at $162.03. Approximately 908,187 shares were traded during trading, a decline of 84% from the average daily volume of 5,606,162 shares. The stock had previously closed at $161.52.

Analysts Set New Price Targets

ABBV has been the subject of a number of analyst reports. Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, March 22nd. Barclays dropped their price target on AbbVie from $195.00 to $187.00 and set an "overweight" rating for the company in a research note on Monday. William Blair raised AbbVie from a "market perform" rating to an "outperform" rating in a research note on Monday, January 29th. Raymond James boosted their target price on AbbVie from $181.00 to $189.00 and gave the stock an "outperform" rating in a research note on Monday, February 5th. Finally, BMO Capital Markets lowered their target price on AbbVie from $195.00 to $180.00 and set an "outperform" rating for the company in a research note on Monday. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AbbVie presently has an average rating of "Moderate Buy" and a consensus target price of $174.31.

AbbVie Price Performance

The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The business has a 50-day moving average price of $174.01 and a two-hundred day moving average price of $161.10. The company has a market capitalization of $288.07 billion, a price-to-earnings ratio of 48.28, a price-to-earnings-growth ratio of 2.03 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period in the prior year, the firm earned $2.46 earnings per share. AbbVie's revenue for the quarter was up .7% on a year-over-year basis. As a group, research analysts anticipate that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Friday, April 12th. AbbVie's payout ratio is currently 183.98%.

Insider Activity at AbbVie

In other AbbVie news, CFO Scott T. Reents sold 14,140 shares of the company's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following the completion of the transaction, the chief financial officer now owns 27,065 shares in the company, valued at approximately $4,802,413.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the transaction, the executive vice president now owns 60,941 shares in the company, valued at approximately $10,895,641.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Scott T. Reents sold 14,140 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following the transaction, the chief financial officer now owns 27,065 shares of the company's stock, valued at approximately $4,802,413.60. The disclosure for this sale can be found here. In the last three months, insiders sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. North Star Investment Management Corp. raised its holdings in shares of AbbVie by 3.2% in the 1st quarter. North Star Investment Management Corp. now owns 89,690 shares of the company's stock valued at $16,333,000 after acquiring an additional 2,763 shares in the last quarter. Longbow Finance SA purchased a new stake in shares of AbbVie in the 1st quarter valued at about $5,519,000. Norden Group LLC raised its holdings in shares of AbbVie by 25.8% in the 1st quarter. Norden Group LLC now owns 8,149 shares of the company's stock valued at $1,484,000 after acquiring an additional 1,672 shares in the last quarter. Dillon & Associates Inc. raised its holdings in shares of AbbVie by 3.0% in the 1st quarter. Dillon & Associates Inc. now owns 6,862 shares of the company's stock valued at $1,249,000 after acquiring an additional 201 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of AbbVie by 29.3% in the 1st quarter. Van ECK Associates Corp now owns 217,297 shares of the company's stock valued at $39,570,000 after acquiring an additional 49,284 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

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.