AbbVie (NYSE:ABBV) Stock Price Up 0.1%

AbbVie Inc. (NYSE:ABBV) shares rose 0.1% during trading on Monday . The company traded as high as $167.72 and last traded at $167.35. Approximately 576,138 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 5,620,874 shares. The stock had previously closed at $167.25.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research analyst reports. Piper Sandler reiterated an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research report on Tuesday, July 2nd. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Wednesday, June 5th. Barclays cut their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. BMO Capital Markets cut their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Finally, Piper Sandler Companies restated an “overweight” rating and set a $190.00 price target on shares of AbbVie in a report on Wednesday, July 3rd. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $181.07.

AbbVie Price Performance

The firm has a market capitalization of $296.91 billion, a P/E ratio of 49.84, a price-to-earnings-growth ratio of 2.26 and a beta of 0.64. The firm has a 50 day moving average price of $164.79 and a 200-day moving average price of $168.27. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the company earned $2.46 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts expect that AbbVie Inc. will post 10.61 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s dividend payout ratio is currently 183.98%.

Institutional Investors Weigh In On AbbVie

Institutional investors and hedge funds have recently modified their holdings of the business. Vermillion & White Wealth Management Group LLC bought a new stake in AbbVie during the 4th quarter valued at $26,000. IFS Advisors LLC bought a new stake in AbbVie during the 1st quarter valued at $36,000. Redmont Wealth Advisors LLC bought a new stake in AbbVie during the 1st quarter valued at $37,000. Able Wealth Management LLC bought a new stake in AbbVie during the 4th quarter valued at $33,000. Finally, Valued Wealth Advisors LLC raised its position in AbbVie by 111.1% during the 1st quarter. Valued Wealth Advisors LLC now owns 228 shares of the company’s stock valued at $42,000 after purchasing an additional 120 shares in the last quarter. 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.