AbbVie (NYSE:ABBV) Stock Price Down 0.3%

AbbVie Inc. (NYSE:ABBV - Get Free Report)'s stock price traded down 0.3% during trading on Monday . The stock traded as low as $164.68 and last traded at $165.90. 522,587 shares were traded during mid-day trading, a decline of 91% from the average session volume of 5,506,045 shares. The stock had previously closed at $166.42.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays cut their price target on AbbVie from $195.00 to $187.00 and set an "overweight" rating on the stock in a research report on Monday, April 29th. Cantor Fitzgerald began coverage on AbbVie in a research report on Friday. They issued an "overweight" rating and a $200.00 price objective on the stock. Guggenheim increased their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, March 22nd. Raymond James raised their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an "outperform" rating in a research report on Monday, February 5th. Finally, BMO Capital Markets decreased their price objective on shares of AbbVie from $195.00 to $180.00 and set an "outperform" rating for the company in a research report on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $176.14.

AbbVie Stock Performance

The company has a market cap of $290.70 billion, a PE ratio of 48.83, a PEG ratio of 2.10 and a beta of 0.61. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The firm's 50 day moving average is $169.88 and its 200-day moving average is $162.70.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business's revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.46 earnings per share. On average, research analysts anticipate that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction that occurred 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 sale, the executive vice president now owns 243,944 shares of the company's stock, valued at approximately $42,375,512.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 243,944 shares in the company, valued at $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 insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Lokken Investment Group LLC grew its holdings in AbbVie by 3.6% during the 4th 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 period. Arcadia Investment Management Corp MI grew its stake in shares of AbbVie by 0.6% during the first 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 increased its holdings in AbbVie by 0.5% in the fourth 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 lifted its stake in AbbVie by 2.9% in the fourth 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 during the period. Finally, Spinnaker Investment Group LLC boosted its holdings 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. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Company Profile

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.