AbbVie (NYSE:ABBV) Stock Price Down 0.5%

AbbVie Inc. (NYSE:ABBV)’s share price fell 0.5% during trading on Tuesday . The stock traded as low as $193.41 and last traded at $194.77. 640,851 shares changed hands during trading, a decline of 88% from the average session volume of 5,357,392 shares. The stock had previously closed at $195.73.

Analyst Ratings Changes

A number of brokerages have commented on ABBV. Barclays boosted their price objective on shares of AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Wells Fargo & Company raised their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Wednesday, June 5th. Piper Sandler Companies reiterated an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a report on Wednesday, July 3rd. Finally, BMO Capital Markets raised their target price on shares of AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $191.64.

AbbVie Stock Down 0.3 %

The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The firm has a 50 day moving average of $188.41 and a two-hundred day moving average of $175.58. The firm has a market capitalization of $340.62 billion, a price-to-earnings ratio of 57.24, a price-to-earnings-growth ratio of 2.66 and a beta of 0.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company posted $2.91 EPS. As a group, sell-side analysts anticipate that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Announces Dividend

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

Insider Transactions at AbbVie

In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now directly owns 513,099 shares in the company, valued at $89,792,325. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the transaction, the chairman now owns 513,099 shares in the company, valued at $89,792,325. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC bought a new stake in AbbVie in the fourth quarter valued at $26,000. Fairway Wealth LLC acquired a new stake in shares of AbbVie in the 2nd quarter valued at about $26,000. Ridgewood Investments LLC bought a new stake in AbbVie in the 2nd quarter valued at about $27,000. Able Wealth Management LLC acquired a new position in AbbVie during the 4th quarter worth approximately $33,000. Finally, IFS Advisors LLC bought a new position in AbbVie in the first quarter worth approximately $36,000. Institutional investors and hedge funds 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.