Insider Selling: AbbVie Inc. (NYSE:ABBV) SVP Sells 18,944 Shares of Stock

AbbVie Inc. (NYSE:ABBV) SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the transaction, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. The trade was a 62.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

AbbVie Price Performance

Shares of ABBV stock opened at $209.07 on Friday. The stock’s fifty day simple moving average is $184.42 and its 200 day simple moving average is $186.95. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The firm has a market cap of $369.09 billion, a price-to-earnings ratio of 87.11, a P/E/G ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a one year low of $153.58 and a one year high of $209.60.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period last year, the business posted $2.79 earnings per share. On average, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is 273.33%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ABBV shares. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Bank of America reaffirmed a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a research report on Tuesday, December 10th. Guggenheim lifted their price target on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $208.35.

Hedge Funds Weigh In On AbbVie

Institutional investors and hedge funds have recently bought and sold shares of the business. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the third quarter worth $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie in the fourth quarter worth $29,000. EnRich Financial Partners LLC boosted its stake in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after purchasing an additional 110 shares in the last quarter. Promus Capital LLC acquired a new position in AbbVie in the fourth quarter worth $30,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie in the fourth quarter worth $31,000. 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.