AbbVie (NYSE:ABBV) Shares Down 0.5% After Analyst Downgrade

AbbVie Inc. (NYSE:ABBV - Get Free Report) shares dropped 0.5% during trading on Monday after Barclays lowered their price target on the stock from $195.00 to $187.00. Barclays currently has an overweight rating on the stock. AbbVie traded as low as $158.56 and last traded at $158.89. Approximately 1,489,616 shares were traded during trading, a decline of 73% from the average daily volume of 5,602,661 shares. The stock had previously closed at $159.62.

Other analysts also recently issued reports about the company. Guggenheim boosted their target price on AbbVie from $188.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, March 22nd. William Blair raised AbbVie from a "market perform" rating to an "outperform" rating in a report on Monday, January 29th. BMO Capital Markets cut their price target on AbbVie from $195.00 to $180.00 and set an "outperform" rating for the company in a report on Monday. Raymond James boosted their price target on AbbVie from $181.00 to $189.00 and gave the stock an "outperform" rating in a report on Monday, February 5th. Finally, Truist Financial boosted their price target on AbbVie from $180.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and an average price target of $174.31.

Insider Activity at AbbVie

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 stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the sale, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction on 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 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares of the company's stock, valued at $42,375,512.24. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 in the last three months. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On AbbVie

Several large investors have recently modified their holdings of the stock. Lokken Investment Group LLC raised its position in shares of AbbVie by 3.6% during the 4th quarter. Lokken Investment Group LLC now owns 1,666 shares of the company's stock valued at $258,000 after buying an additional 58 shares in the last quarter. Arcadia Investment Management Corp MI raised its position in shares of AbbVie by 0.6% during the 1st quarter. Arcadia Investment Management Corp MI now owns 9,371 shares of the company's stock valued at $1,706,000 after buying an additional 59 shares in the last quarter. Aspen Wealth Strategies LLC raised its position in shares of AbbVie by 0.5% during the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company's stock valued at $1,776,000 after buying an additional 61 shares in the last quarter. Marks Group Wealth Management Inc raised its position in shares of AbbVie by 2.9% during the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company's stock valued at $349,000 after buying an additional 63 shares in the last quarter. Finally, Spinnaker Investment Group LLC raised its position in shares of AbbVie by 1.6% during the 1st quarter. Spinnaker Investment Group LLC now owns 4,068 shares of the company's stock valued at $741,000 after buying an additional 64 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Performance

The company's 50-day moving average price is $174.27 and its two-hundred day moving average price is $161.00. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The stock has a market cap of $286.00 billion, a PE ratio of 47.93, a PEG ratio of 2.03 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter last year, the firm earned $2.46 EPS. The firm's quarterly revenue was up .7% compared to the same quarter last year. On average, equities research analysts forecast that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Friday, April 12th. AbbVie's dividend payout ratio is currently 183.98%.

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.