AbbVie Inc. (NYSE:ABBV) SVP Kevin K. Buckbee Sells 18,944 Shares

AbbVie Inc. (NYSE:ABBV) SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now directly owns 11,496 shares in the company, valued at approximately $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 is accessible through this link.

AbbVie Stock Performance

AbbVie stock opened at $209.07 on Friday. 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 stock has a market cap of $369.09 billion, a price-to-earnings ratio of 87.11, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. The firm has a 50 day simple moving average of $184.42 and a 200-day simple moving average of $186.98. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $209.60.

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

AbbVie Dividend Announcement

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

Hedge Funds Weigh In On AbbVie

A number of hedge funds have recently made changes to their positions in the stock. Atlanta Consulting Group Advisors LLC purchased a new position in AbbVie in the 3rd quarter valued at approximately $999,000. Saturna Capital Corp boosted its position in AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after buying an additional 560,808 shares during the period. Everence Capital Management Inc. boosted its position in AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after buying an additional 15,550 shares during the period. GAMMA Investing LLC boosted its position in AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after buying an additional 3,439 shares during the period. Finally, Avior Wealth Management LLC boosted its position in AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after buying an additional 10,768 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ABBV. Morgan Stanley upped their price target on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Piper Sandler upped their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company upped their price target on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a report on Friday, November 22nd. Finally, BMO Capital Markets boosted their price objective on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $208.35.

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.