AbbVie (NYSE:ABBV) Shares Down 0.3% - Here's Why

AbbVie Inc. (NYSE:ABBV - Get Free Report) shares fell 0.3% on Thursday . The company traded as low as $173.53 and last traded at $175.98. 971,955 shares traded hands during trading, a decline of 82% from the average session volume of 5,513,237 shares. The stock had previously closed at $176.46.

Wall Street Analyst Weigh In

ABBV has been the topic of several research analyst reports. Morgan Stanley reduced their price target on shares of AbbVie from $231.00 to $224.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 12th. UBS Group increased their target price on AbbVie from $195.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. BMO Capital Markets reduced their price target on AbbVie from $228.00 to $208.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 12th. Wolfe Research started coverage on shares of AbbVie in a research report on Friday, November 15th. They set an "outperform" rating and a $205.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their target price on shares of AbbVie from $210.00 to $200.00 and set an "overweight" rating for the company in a report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $202.38.

AbbVie Stock Performance

The firm has a market capitalization of $311.46 billion, a PE ratio of 61.10, a price-to-earnings-growth ratio of 2.08 and a beta of 0.58. 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 business's 50 day simple moving average is $187.45 and its two-hundred day simple moving average is $182.21.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts' consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.95 earnings per share. Research analysts expect that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie's previous quarterly dividend of $1.55. AbbVie's dividend payout ratio (DPR) is currently 215.28%.

Institutional Trading of AbbVie

Several hedge funds have recently bought and sold shares of ABBV. State Street Corp increased its holdings in AbbVie by 1.6% in the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company's stock worth $15,614,329,000 after acquiring an additional 1,267,685 shares in the last quarter. Legal & General Group Plc boosted its position in shares of AbbVie by 0.9% in the second quarter. Legal & General Group Plc now owns 15,277,480 shares of the company's stock worth $2,620,382,000 after purchasing an additional 134,239 shares during the period. FMR LLC increased its stake in shares of AbbVie by 3.9% in the third quarter. FMR LLC now owns 13,630,404 shares of the company's stock worth $2,691,732,000 after purchasing an additional 511,470 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of AbbVie by 6.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company's stock valued at $2,009,542,000 after purchasing an additional 582,953 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of AbbVie by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company's stock valued at $1,842,642,000 after buying an additional 373,802 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.