AbbVie (NYSE:ABBV) Trading Down 1.4%

AbbVie Inc. (NYSE:ABBV - Get Free Report) shares traded down 1.4% on Wednesday . The company traded as low as $159.87 and last traded at $160.24. 924,089 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 5,604,779 shares. The stock had previously closed at $162.55.

Analysts Set New Price Targets

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

AbbVie Price Performance

The firm has a market capitalization of $283.25 billion, a P/E ratio of 47.60, a PEG ratio of 2.07 and a beta of 0.61. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The business's 50 day moving average is $172.48 and its 200-day moving average is $161.62.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The firm had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter last year, the business posted $2.46 EPS. The company's revenue was up .7% compared to the same quarter last year. As a group, sell-side analysts predict that AbbVie Inc. will post 11.29 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.87%. AbbVie's dividend payout ratio (DPR) is currently 183.98%.

Insider Activity at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction 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 $42,375,512.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the sale, the executive vice president now directly owns 243,944 shares of the company's stock, valued at $42,375,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company's stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the transaction, the executive vice president now directly owns 60,941 shares of the company's stock, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. In the last three months, insiders have sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is owned by insiders.

Institutional Trading of AbbVie

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

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.