AbbVie (NYSE:ABBV) Trading 0.1% Higher

AbbVie Inc. (NYSE:ABBV)’s share price rose 0.1% on Monday . The stock traded as high as $167.72 and last traded at $167.35. Approximately 576,138 shares were traded during trading, a decline of 90% from the average daily volume of 5,620,874 shares. The stock had previously closed at $167.25.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ABBV. Barclays reduced their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. 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 research note on Monday, April 29th. Guggenheim boosted their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of AbbVie in a report on Thursday, June 20th. Finally, Piper Sandler reissued an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $181.07.

AbbVie Price Performance

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 has a fifty day simple moving average of $164.58 and a two-hundred day simple moving average of $168.08. The firm has a market cap of $294.62 billion, a PE ratio of 49.66, a PEG ratio of 2.14 and a beta of 0.64.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (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 analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.46 EPS. Equities analysts predict that AbbVie Inc. will post 10.71 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio is currently 183.98%.

Institutional Investors Weigh In On AbbVie

Hedge funds and other institutional investors have recently made changes to their positions in the company. Stokes Family Office LLC lifted its stake in AbbVie by 2.2% in the second quarter. Stokes Family Office LLC now owns 23,826 shares of the company’s stock worth $4,087,000 after purchasing an additional 504 shares during the last quarter. Institutional & Family Asset Management LLC lifted its stake in shares of AbbVie by 25.6% during the 2nd quarter. Institutional & Family Asset Management LLC now owns 2,020 shares of the company’s stock worth $346,000 after acquiring an additional 412 shares during the last quarter. DNB Asset Management AS boosted its holdings in AbbVie by 20.8% during the 2nd quarter. DNB Asset Management AS now owns 525,526 shares of the company’s stock valued at $90,138,000 after acquiring an additional 90,402 shares during the period. Hilltop Wealth Advisors LLC grew its position in AbbVie by 5.9% in the 2nd quarter. Hilltop Wealth Advisors LLC now owns 1,275 shares of the company’s stock valued at $219,000 after acquiring an additional 71 shares during the last quarter. Finally, Modus Advisors LLC boosted its stake in shares of AbbVie by 2.8% during the second quarter. Modus Advisors LLC now owns 23,819 shares of the company’s stock valued at $4,085,000 after purchasing an additional 660 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

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.