Shares of AbbVie Inc. (NYSE:ABBV - Get Free Report) dropped 1.4% on Thursday . The stock traded as low as $158.12 and last traded at $159.49. Approximately 1,341,626 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 5,602,795 shares. The stock had previously closed at $161.72.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on ABBV shares. Guggenheim increased their price objective on AbbVie from $188.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, March 22nd. Barclays decreased their price objective on AbbVie from $195.00 to $187.00 and set an "overweight" rating for the company in a report on Monday. Truist Financial increased their price objective on AbbVie from $180.00 to $195.00 and gave the stock 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 research note on Monday, February 5th. Finally, William Blair raised AbbVie from a "market perform" rating to an "outperform" rating in a research note on Monday, January 29th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.31.
Get Our Latest Report on AbbVie
AbbVie Price Performance
The firm has a market capitalization of $284.81 billion, a PE ratio of 47.73, a PEG ratio of 2.04 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. The firm has a 50-day simple moving average of $173.42 and a 200-day simple moving average of $161.10.
AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion for the quarter, compared to analysts' expectations of $11.93 billion. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The business's revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the firm posted $2.46 earnings per share. As a group, equities analysts forecast that AbbVie Inc. will post 11.3 earnings per share for the current year.
AbbVie Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.85%. AbbVie's payout ratio is 183.98%.
Insiders Place Their Bets
In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm's stock in a transaction dated Wednesday, February 21st. The stock was 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 owns 243,944 shares of the company's stock, valued at $42,375,512.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Scott T. Reents sold 14,140 shares of the firm's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following the transaction, the chief financial officer now owns 27,065 shares of the company's stock, valued at $4,802,413.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm's stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 383,324 shares of company stock valued at $67,780,003. Insiders own 0.25% of the company's stock.
Institutional Trading of AbbVie
Several institutional investors and hedge funds have recently added to or reduced their stakes in ABBV. Norges Bank bought a new stake in AbbVie during the 4th quarter valued at approximately $3,229,888,000. Massachusetts Financial Services Co. MA raised its stake in AbbVie by 29,922.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company's stock valued at $899,186,000 after purchasing an additional 6,012,281 shares during the period. International Assets Investment Management LLC bought a new stake in AbbVie during the 4th quarter valued at approximately $499,955,000. Capital International Investors grew its holdings in AbbVie by 6.0% during the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company's stock valued at $6,971,796,000 after buying an additional 2,542,463 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in AbbVie by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company's stock valued at $3,774,569,000 after buying an additional 1,702,415 shares in the last quarter. Institutional investors own 70.23% of the company's stock.
AbbVie Company Profile
(
Get Free Report)
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.
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