AbbVie (NYSE:ABBV) Shares Down 0.1%

AbbVie Inc. (NYSE:ABBV)’s stock price was down 0.1% on Thursday . The stock traded as low as $157.76 and last traded at $159.38. Approximately 903,885 shares were traded during trading, a decline of 84% from the average daily volume of 5,480,946 shares. The stock had previously closed at $159.61.

Analyst Ratings Changes

Several analysts have recently weighed in on ABBV shares. Raymond James boosted their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Barclays reduced their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. BMO Capital Markets reduced their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Finally, Truist Financial upped their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $176.14.

AbbVie Price Performance

The stock has a market cap of $280.35 billion, a P/E ratio of 47.29, a P/E/G ratio of 2.09 and a beta of 0.61. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The business has a 50 day simple moving average of $168.81 and a 200-day simple moving average of $162.98.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.46 EPS. On average, sell-side analysts forecast that AbbVie Inc. will post 11.26 EPS for the current year.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 330,454 shares of company stock worth $58,595,955. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On AbbVie

Hedge funds have recently added to or reduced their stakes in the company. WealthPlan Investment Management LLC lifted its position in AbbVie by 664.4% in the third quarter. WealthPlan Investment Management LLC now owns 56,795 shares of the company’s stock valued at $8,466,000 after purchasing an additional 49,365 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of AbbVie by 26.9% in the third quarter. Larson Financial Group LLC now owns 2,530 shares of the company’s stock worth $377,000 after purchasing an additional 536 shares during the last quarter. Jackson Creek Investment Advisors LLC bought a new position in AbbVie during the 3rd quarter valued at approximately $214,000. Winthrop Advisory Group LLC raised its holdings in shares of AbbVie by 3.6% during the third quarter. Winthrop Advisory Group LLC now owns 3,562 shares of the company’s stock valued at $531,000 after acquiring an additional 124 shares in the last quarter. Finally, NBC Securities Inc. bought a new stake in AbbVie in the third quarter valued at $3,183,000. 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.