AbbVie (NYSE:ABBV) Stock Price Down 0.8% – What’s Next?

Shares of AbbVie Inc. (NYSE:ABBV) were down 0.8% during mid-day trading on Wednesday . The company traded as low as $209.31 and last traded at $211.78. Approximately 1,562,848 shares changed hands during trading, a decline of 74% from the average daily volume of 6,056,749 shares. The stock had previously closed at $213.59.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ABBV shares. Guggenheim boosted their price target on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Citigroup boosted their price target on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Truist Financial boosted their price target on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Bank of America upped their price objective on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Finally, BMO Capital Markets upped their price objective on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.45.

AbbVie Trading Down 0.1 %

The company’s 50 day moving average price is $190.48 and its 200 day moving average price is $188.06. The company has a market cap of $373.19 billion, a price-to-earnings ratio of 88.07, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 prior year, the company earned $2.79 EPS. Research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 273.33%.

Insider Buying and Selling

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. This represents a 40.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,439 shares of company stock valued at $11,377,057. Company insiders own 0.25% of the company’s stock.

Institutional Trading of AbbVie

A number of hedge funds have recently bought and sold shares of ABBV. Groupama Asset Managment boosted its holdings in AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie during the 3rd quarter worth about $28,000. Fiduciary Advisors Inc. bought a new position in shares of AbbVie during the 4th quarter worth about $29,000. EnRich Financial Partners LLC lifted its holdings in shares of AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares during the period. Finally, Promus Capital LLC bought a new position in shares of AbbVie during the 4th quarter worth about $30,000. 70.23% of the stock is owned by institutional investors.

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.