Kevin K. Buckbee Sells 1,800 Shares of AbbVie Inc. (NYSE:ABBV) Stock

AbbVie Inc. (NYSE:ABBV) SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

AbbVie Stock Down 0.9 %

ABBV stock opened at $171.52 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The business has a 50 day moving average of $182.94 and a 200 day moving average of $183.24. AbbVie Inc. has a twelve month low of $151.29 and a twelve month high of $207.32. The firm has a market cap of $303.10 billion, a PE ratio of 59.56, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.95 earnings per share. On average, research analysts forecast that AbbVie Inc. will post 10.96 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.82%. AbbVie’s payout ratio is currently 227.78%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Sanford C. Bernstein began coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective for the company. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research note on Tuesday. UBS Group raised their price objective on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Wolfe Research began coverage on AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price for the company. Finally, Guggenheim boosted their price target on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. 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.com, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $205.70.

Institutional Trading of AbbVie

A number of hedge funds have recently bought and sold shares of the company. Fairway Wealth LLC bought a new stake in AbbVie during the second quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new position in shares of AbbVie during the 2nd quarter worth $27,000. Groupama Asset Managment grew its position in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie in the 3rd quarter worth $28,000. Finally, Quest Partners LLC raised its holdings in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the period. Hedge funds and other institutional investors 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.