AbbVie (NYSE:ABBV) Trading Down 0.2% – Here’s Why

Shares of AbbVie Inc. (NYSE:ABBV) fell 0.2% during trading on Friday . The stock traded as low as $182.50 and last traded at $182.75. 637,020 shares were traded during mid-day trading, a decline of 88% from the average session volume of 5,534,343 shares. The stock had previously closed at $183.08.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. BMO Capital Markets reduced their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. William Blair raised shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Wolfe Research assumed coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price for the company. Citigroup dropped their price objective on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, Piper Sandler raised their price target on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $203.50.

AbbVie Trading Up 0.0 %

The firm’s 50-day moving average is $188.44 and its 200-day moving average is $181.60. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm has a market cap of $323.63 billion, a price-to-earnings ratio of 63.45, a P/E/G ratio of 2.09 and a beta of 0.63.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter last year, the firm posted $2.95 EPS. AbbVie’s revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.58%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

Institutional Trading of AbbVie

Several hedge funds have recently bought and sold shares of the business. RPg Family Wealth Advisory LLC bought a new position in AbbVie during the 3rd quarter valued at $28,000. Fairway Wealth LLC bought a new stake in shares of AbbVie during the 2nd quarter worth $26,000. Ridgewood Investments LLC bought a new stake in shares of AbbVie during the 2nd quarter worth $27,000. Marquette Asset Management LLC bought a new stake in shares of AbbVie during the 3rd quarter worth $39,000. Finally, Mizuho Securities Co. Ltd. raised its stake in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the period. 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.