AbbVie (NYSE:ABBV) Trading 0.1% Higher

AbbVie Inc. (NYSE:ABBV) shares rose 0.1% on Thursday . The stock traded as high as $191.95 and last traded at $191.40. Approximately 1,283,265 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 5,350,360 shares. The stock had previously closed at $191.26.

Analyst Ratings Changes

ABBV has been the subject of several research reports. Piper Sandler upped their price target on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a research report on Wednesday, July 3rd. Barclays upped their price target on shares of AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Morgan Stanley upped their price target on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, AbbVie currently has a consensus rating of “Buy” and an average price target of $191.64.

AbbVie Trading Down 0.2 %

The stock’s fifty day simple moving average is $190.68 and its 200-day simple moving average is $176.07. The firm has a market cap of $337.10 billion, a PE ratio of 56.80, a PEG ratio of 2.65 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.

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

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.25%. AbbVie’s payout ratio is currently 183.98%.

Insider Transactions at AbbVie

In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the 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 sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction on 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 sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $49,497,875.00. Following the completion of the sale, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Institutional Trading of AbbVie

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new stake in AbbVie during the second quarter valued at $26,000. Ridgewood Investments LLC purchased a new position in AbbVie during the second quarter valued at $27,000. Vermillion & White Wealth Management Group LLC purchased a new position in AbbVie during the fourth quarter valued at $26,000. IFS Advisors LLC purchased a new position in AbbVie during the first quarter valued at $36,000. Finally, Redmont Wealth Advisors LLC purchased a new position in AbbVie during the first quarter valued at $37,000. 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.