AbbVie (NYSE:ABBV) Stock Price Up 0.9%

AbbVie Inc. (NYSE:ABBV - Get Free Report) shares were up 0.9% on Wednesday . The company traded as high as $163.19 and last traded at $163.10. Approximately 1,212,234 shares traded hands during trading, a decline of 78% from the average daily volume of 5,527,790 shares. The stock had previously closed at $161.59.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. BMO Capital Markets decreased their price objective on shares of AbbVie from $195.00 to $180.00 and set an "outperform" rating for the company in a research report on Monday, April 29th. Raymond James lifted their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an "outperform" rating in a research note on Monday, February 5th. William Blair raised shares of AbbVie from a "market perform" rating to an "outperform" rating in a report on Monday, January 29th. Guggenheim upped their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, March 22nd. Finally, Barclays lowered their price objective on AbbVie from $195.00 to $187.00 and set an "overweight" rating for the company in a report on Monday, April 29th. Three 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.31.

AbbVie Stock Up 1.4 %

The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The firm has a market capitalization of $289.21 billion, a price-to-earnings ratio of 48.50, a PEG ratio of 2.04 and a beta of 0.61. The stock has a fifty day moving average of $170.80 and a 200-day moving average of $162.21.

AbbVie (NYSE:ABBV - Get Free Report) last released its 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 net margin of 11.02% and a return on equity of 179.47%. The business had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same period last year, the firm posted $2.46 earnings per share. The firm's quarterly revenue was up .7% compared to the same quarter last year. As a group, sell-side analysts expect that AbbVie Inc. will post 11.29 EPS for the current year.

AbbVie Dividend Announcement

The firm 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 $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie's dividend payout ratio is currently 183.98%.

Insiders Place Their Bets

In related news, EVP Nicholas Donoghoe sold 21,082 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president now owns 55,903 shares of the company's stock, valued at $9,855,698.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the firm's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now directly owns 55,903 shares in the company, valued at $9,855,698.90. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the sale, the executive vice president now owns 60,941 shares of the company's stock, valued at $10,895,641.39. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vermillion & White Wealth Management Group LLC bought a new stake in shares of AbbVie in the 4th quarter worth approximately $26,000. Able Wealth Management LLC acquired a new stake in AbbVie during the fourth quarter worth $33,000. IFS Advisors LLC bought a new stake in AbbVie in the 1st quarter valued at $36,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of AbbVie in the 4th quarter valued at $37,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of AbbVie during the 1st quarter valued at about $37,000. 70.23% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.