AbbVie (NYSE:ABBV) Trading 1.8% Higher

AbbVie Inc. (NYSE:ABBV)’s stock price traded up 1.8% on Thursday . The company traded as high as $167.44 and last traded at $167.14. 1,193,372 shares were traded during mid-day trading, a decline of 79% from the average session volume of 5,592,379 shares. The stock had previously closed at $164.25.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Barclays raised their price target on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Truist Financial raised their price target on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Raymond James raised their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, Guggenheim raised their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $177.43.

AbbVie Trading Up 0.6 %

The firm has a market capitalization of $292.55 billion, a price-to-earnings ratio of 60.89, a PEG ratio of 2.09 and a beta of 0.58. The business’s 50-day simple moving average is $175.79 and its two-hundred day simple moving average is $159.94. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same period last year, the business earned $3.60 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities analysts forecast that AbbVie Inc. will post 11.17 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is currently 227.11%.

Insider Activity at AbbVie

In related news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the transaction, the chief executive officer now owns 519,099 shares in the company, valued at $92,020,679.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the transaction, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert A. Michael sold 68,879 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $176.45, for a total transaction of $12,153,699.55. Following the transaction, the chief operating officer now owns 98,645 shares of the company’s stock, valued at approximately $17,405,910.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 383,324 shares of company stock worth $67,780,003. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of AbbVie

Institutional investors have recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of AbbVie during the 4th quarter worth approximately $26,000. IFS Advisors LLC purchased a new stake in AbbVie in the 1st quarter valued at $36,000. Able Wealth Management LLC purchased a new stake in AbbVie in the 4th quarter valued at $33,000. Ables Iannone Moore & Associates Inc. purchased a new stake in AbbVie in the 4th quarter valued at $37,000. Finally, Hibernia Wealth Partners LLC purchased a new stake in AbbVie in the 3rd quarter valued at $36,000. 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.