AbbVie (NYSE:ABBV) Trading Down 0.8%

AbbVie Inc. (NYSE:ABBV - Get Free Report) shares fell 0.8% during mid-day trading on Thursday . The company traded as low as $162.18 and last traded at $162.48. 946,895 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 5,522,812 shares. The stock had previously closed at $163.79.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ABBV shares. Truist Financial boosted their target price on AbbVie from $180.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, February 6th. Guggenheim raised their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, March 22nd. William Blair upgraded shares of AbbVie from a "market perform" rating to an "outperform" rating in a research note on Monday, January 29th. Barclays cut their price objective on shares of AbbVie from $195.00 to $187.00 and set an "overweight" rating for the company in a research report on Monday, April 29th. Finally, Raymond James upped their target price on AbbVie from $181.00 to $189.00 and gave the company an "outperform" rating in a research report on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and an average price target of $174.31.

AbbVie Stock Up 0.3 %

The company has a market cap of $290.22 billion, a P/E ratio of 48.74, a PEG ratio of 2.04 and a beta of 0.61. The stock has a 50-day moving average of $170.45 and a 200 day moving average of $162.23. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business's quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the firm earned $2.46 EPS. Research analysts anticipate that AbbVie Inc. will post 11.29 earnings per share for the current year.

Insider Buying and Selling at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction on 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 in the company, valued at approximately $42,375,512.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the transaction, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business's stock in a transaction on 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 sale, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AbbVie

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. TCI Wealth Advisors Inc. lifted its holdings in AbbVie by 1.0% during the 4th quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company's stock worth $2,641,000 after buying an additional 165 shares during the period. Torray Investment Partners LLC lifted its holdings in AbbVie by 13.0% during the 3rd quarter. Torray Investment Partners LLC now owns 21,190 shares of the company's stock worth $3,159,000 after buying an additional 2,446 shares during the period. Retirement Planning Co of New England Inc. lifted its holdings in AbbVie by 21.3% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company's stock worth $3,936,000 after buying an additional 4,633 shares during the period. Amplius Wealth Advisors LLC lifted its holdings in AbbVie by 17.6% during the 4th quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company's stock worth $413,000 after buying an additional 400 shares during the period. Finally, Opinicus Capital Inc. acquired a new position in AbbVie during the 4th quarter worth about $1,296,000. 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.