AbbVie (NYSE:ABBV) Trading 0% Higher

AbbVie Inc. (NYSE:ABBV - Get Free Report)'s share price traded up 0% on Tuesday . The stock traded as high as $163.99 and last traded at $162.79. 914,779 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 5,608,147 shares. The stock had previously closed at $162.73.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ABBV. BMO Capital Markets decreased their target price on shares of AbbVie from $195.00 to $180.00 and set an "outperform" rating on the stock in a research report on Monday, April 29th. Truist Financial lifted their price objective on AbbVie from $180.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, February 6th. Raymond James increased their target price on AbbVie from $181.00 to $189.00 and gave the stock an "outperform" rating in a report on Monday, February 5th. 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, April 29th. Finally, William Blair upgraded shares of AbbVie from a "market perform" rating to an "outperform" rating in a research note on Monday, January 29th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $174.31.

AbbVie Price Performance

The business's 50-day simple moving average is $172.48 and its two-hundred day simple moving average is $161.62. The stock has a market cap of $287.82 billion, a price-to-earnings ratio of 48.23, a price-to-earnings-growth ratio of 2.07 and a beta of 0.61. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $11.93 billion. During the same period in the previous year, the business posted $2.46 earnings per share. The business's quarterly revenue was up .7% compared to the same quarter last year. Research analysts expect that AbbVie Inc. will post 11.29 earnings per share for the current year.

AbbVie Dividend Announcement

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

Insider Transactions at AbbVie

In other news, CEO Richard A. Gonzalez sold 138,616 shares of the company's stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the sale, the chief executive officer now directly owns 519,099 shares of the company's stock, valued at approximately $92,020,679.73. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Richard A. Gonzalez sold 138,616 shares of the firm's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the sale, the chief executive officer now owns 519,099 shares of the company's stock, valued at $92,020,679.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott T. Reents sold 14,140 shares of the business's stock in a transaction that occurred on Friday, February 23rd. The shares were 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 directly owns 27,065 shares in the company, valued at $4,802,413.60. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock worth $67,780,003 over the last ninety days. 0.25% of the stock is owned by insiders.

Institutional Investors Weigh In On AbbVie

Large investors have recently bought and sold shares of the stock. Verus Capital Partners LLC increased its position in AbbVie by 1.6% in the 1st quarter. Verus Capital Partners LLC now owns 64,640 shares of the company's stock valued at $11,771,000 after buying an additional 990 shares in the last quarter. Meeder Advisory Services Inc. increased its holdings in shares of AbbVie by 3.5% during the first quarter. Meeder Advisory Services Inc. now owns 29,596 shares of the company's stock valued at $5,389,000 after acquiring an additional 1,006 shares in the last quarter. NorthRock Partners LLC raised its position in shares of AbbVie by 7.3% during the first quarter. NorthRock Partners LLC now owns 25,292 shares of the company's stock worth $4,606,000 after purchasing an additional 1,728 shares during the period. Fiduciary Family Office LLC lifted its holdings in shares of AbbVie by 3.2% in the 1st quarter. Fiduciary Family Office LLC now owns 9,755 shares of the company's stock worth $1,776,000 after purchasing an additional 301 shares in the last quarter. Finally, WNY Asset Management LLC grew its position in AbbVie by 5.6% in the 1st quarter. WNY Asset Management LLC now owns 4,905 shares of the company's stock valued at $893,000 after purchasing an additional 262 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

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.