AbbVie (NYSE:ABBV) Stock Price Up 0%

AbbVie Inc. (NYSE:ABBV - Get Free Report)'s share price rose 0% during trading on Wednesday . The company traded as high as $163.23 and last traded at $162.66. Approximately 781,250 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 5,603,236 shares. The stock had previously closed at $162.64.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ABBV. Truist Financial boosted their target price on AbbVie from $180.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, February 6th. Barclays reduced their target price on shares of AbbVie from $195.00 to $187.00 and set an "overweight" rating on the stock in a report on Monday. BMO Capital Markets lowered their price target on AbbVie from $195.00 to $180.00 and set an "outperform" rating for the company in a report on Monday. Guggenheim boosted their price objective on AbbVie from $188.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, March 22nd. Finally, Raymond James upped their target price on AbbVie from $181.00 to $189.00 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 given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and a consensus target price of $174.31.

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 business's 50-day moving average price is $173.74 and its two-hundred day moving average price is $161.10. The firm has a market cap of $286.35 billion, a price-to-earnings ratio of 47.99, a P/E/G ratio of 2.04 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, April 26th. The company reported $2.31 EPS 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 business had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same period last year, the firm earned $2.46 earnings per share. The company's revenue for the quarter was up .7% compared to the same quarter last year. On average, research analysts forecast that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.83%. The ex-dividend date is Friday, April 12th. AbbVie's dividend payout ratio (DPR) is presently 183.98%.

Insiders Place Their Bets

In related news, SVP Kevin K. Buckbee sold 5,144 shares of the business's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company's stock, valued at approximately $1,233,546.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company's stock in a transaction dated Monday, March 18th. The shares were 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 $10,895,641.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 over the last 90 days. 0.25% of the stock is owned by company insiders.

Institutional Trading of AbbVie

Hedge funds have recently added to or reduced their stakes in the business. Vermillion & White Wealth Management Group LLC bought a new position in shares of AbbVie in the fourth quarter valued at approximately $26,000. IFS Advisors LLC bought a new position in AbbVie during the 1st quarter valued at $36,000. Redmont Wealth Advisors LLC acquired a new position in shares of AbbVie during the 1st quarter valued at $37,000. Able Wealth Management LLC bought a new stake in shares of AbbVie in the 4th quarter worth $33,000. Finally, Valued Wealth Advisors LLC lifted its holdings in shares of AbbVie by 111.1% in the first quarter. Valued Wealth Advisors LLC now owns 228 shares of the company's stock valued at $42,000 after buying an additional 120 shares during the period. 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.