AbbVie (NYSE:ABBV) Stock Price Down 0.9%

AbbVie Inc. (NYSE:ABBV - Get Free Report) shares traded down 0.9% on Wednesday . The stock traded as low as $166.74 and last traded at $168.08. 709,865 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 5,552,454 shares. The stock had previously closed at $169.54.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Raymond James increased their target price on shares of AbbVie from $181.00 to $189.00 and gave the company an "outperform" rating in a research note on Monday, February 5th. Guggenheim increased 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. William Blair raised shares of AbbVie from a "market perform" rating to an "outperform" rating in a research note on Monday, January 29th. Truist Financial raised their price target on shares of AbbVie from $180.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, February 6th. Finally, Barclays raised their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 27th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $177.43.

AbbVie Stock Down 1.0 %

The firm has a market cap of $297.17 billion, a PE ratio of 61.48, a P/E/G ratio of 2.16 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The business's 50-day simple moving average is $175.13 and its 200 day simple moving average is $160.62.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $14.02 billion. During the same period last year, the business earned $3.60 EPS. The company's revenue was down 5.4% compared to the same quarter last year. As a group, equities research analysts expect that AbbVie Inc. will post 11.16 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie's dividend payout ratio is presently 227.11%.

Insiders Place Their Bets

In other AbbVie 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 completion of the transaction, the executive vice president now directly owns 55,903 shares of the company's stock, valued at approximately $9,855,698.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie 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 completion of the transaction, the executive vice president now directly owns 55,903 shares of the company's stock, valued at approximately $9,855,698.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 60,941 shares of the company's stock, valued at $10,895,641.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On AbbVie

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in AbbVie by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company's stock worth $23,961,001,000 after acquiring an additional 1,450,089 shares in the last quarter. Capital International Investors increased its holdings in AbbVie by 6.0% in the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company's stock worth $6,971,796,000 after acquiring an additional 2,542,463 shares in the last quarter. Morgan Stanley increased its holdings in AbbVie by 2.9% in the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company's stock worth $4,796,085,000 after acquiring an additional 914,485 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in AbbVie by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company's stock worth $3,774,569,000 after acquiring an additional 1,702,415 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in AbbVie by 2.3% in the 3rd quarter. Northern Trust Corp now owns 21,936,279 shares of the company's stock worth $3,269,822,000 after acquiring an additional 491,391 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other 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.