AbbVie (NYSE:ABBV) Shares Up 0.4%

Shares of AbbVie Inc. (NYSE:ABBV) shot up 0.4% during mid-day trading on Monday . The company traded as high as $196.16 and last traded at $194.94. 502,272 shares changed hands during trading, a decline of 91% from the average session volume of 5,369,300 shares. The stock had previously closed at $194.21.

Analysts Set New Price Targets

ABBV has been the subject of several research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. Piper Sandler lifted their target price on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Wells Fargo & Company upped their price target on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research note on Wednesday, June 5th. Finally, Barclays increased their price objective on shares of AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $191.64.

AbbVie Stock Down 0.3 %

The company has a market cap of $340.62 billion, a P/E ratio of 57.51, a PEG ratio of 2.66 and a beta of 0.64. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The business’s 50 day moving average price is $187.92 and its 200-day moving average price is $175.46.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the prior year, the business earned $2.91 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, analysts anticipate that AbbVie Inc. will post 10.86 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.21%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Insiders Place Their Bets

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the sale, the chairman now directly owns 513,099 shares of the company’s stock, valued at $89,792,325. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the transaction, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Institutional Trading of AbbVie

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Fairway Wealth LLC acquired a new position in AbbVie during the second quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie in the 2nd quarter valued at $27,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of AbbVie in the 4th quarter valued at $26,000. IFS Advisors LLC acquired a new stake in AbbVie during the 1st quarter worth $36,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of AbbVie during the first quarter worth about $37,000. 70.23% of the stock is owned by institutional investors.

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.