AbbVie (NYSE:ABBV) Trading Down 0%

AbbVie Inc. (NYSE:ABBV) fell 0% during trading on Tuesday . The company traded as low as $189.38 and last traded at $190.11. 579,835 shares were traded during trading, a decline of 90% from the average session volume of 5,543,275 shares. The stock had previously closed at $190.18.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ABBV shares. Morgan Stanley boosted their price target on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a report on Monday. Barclays upped their target price on AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Piper Sandler Companies reiterated an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Wednesday, July 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research note on Monday, August 5th. Finally, Truist Financial reaffirmed a “buy” rating and set a $210.00 price objective (up previously from $195.00) on shares of AbbVie in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.29.

AbbVie Stock Performance

The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The company has a market cap of $337.26 billion, a PE ratio of 56.41, a P/E/G ratio of 2.49 and a beta of 0.64. The firm’s 50-day simple moving average is $173.94 and its two-hundred day simple moving average is $171.45.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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 firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 186.82%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.91 earnings per share. As a group, research analysts anticipate that AbbVie Inc. will post 10.87 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Monday, July 15th. AbbVie’s payout ratio is 183.98%.

Insider Activity at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at $89,792,325. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Institutional Investors Weigh In On AbbVie

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sei Investments Co. boosted its holdings in AbbVie by 11.2% during the second quarter. Sei Investments Co. now owns 484,279 shares of the company’s stock worth $83,064,000 after buying an additional 48,722 shares in the last quarter. Ranch Capital Advisors Inc. boosted its stake in shares of AbbVie by 2.1% during the 2nd quarter. Ranch Capital Advisors Inc. now owns 11,718 shares of the company’s stock worth $2,010,000 after acquiring an additional 243 shares in the last quarter. AE Wealth Management LLC boosted its stake in shares of AbbVie by 26.5% during the 2nd quarter. AE Wealth Management LLC now owns 255,671 shares of the company’s stock worth $43,853,000 after acquiring an additional 53,590 shares in the last quarter. Drexel Morgan & Co. grew its position in shares of AbbVie by 18.1% during the 2nd quarter. Drexel Morgan & Co. now owns 1,900 shares of the company’s stock valued at $326,000 after acquiring an additional 291 shares during the period. Finally, Bridges Investment Management Inc. increased its stake in shares of AbbVie by 124.9% in the 2nd quarter. Bridges Investment Management Inc. now owns 181,039 shares of the company’s stock valued at $31,052,000 after purchasing an additional 100,547 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

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.