AbbVie Inc. (NYSE:ABBV - Get Free Report)'s stock price traded down 0.6% during trading on Monday . The stock traded as low as $171.21 and last traded at $172.03. 1,282,219 shares changed hands during trading, a decline of 82% from the average session volume of 7,086,197 shares. The stock had previously closed at $172.99.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the stock. BMO Capital Markets lifted their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Morgan Stanley restated a "hold" rating on shares of AbbVie in a research report on Friday, April 11th. Bank of America boosted their price target on shares of AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. StockNews.com lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, April 9th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and an average target price of $211.19.
Check Out Our Latest Report on ABBV
AbbVie Stock Up 1.4 %
The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The stock's 50 day simple moving average is $197.30 and its two-hundred day simple moving average is $187.37. The firm has a market cap of $317.67 billion, a P/E ratio of 74.82, a P/E/G ratio of 1.62 and a beta of 0.55.
AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the previous year, the firm posted $2.79 earnings per share. As a group, research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.
AbbVie Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is 273.33%.
Insider Transactions at AbbVie
In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares of the company's stock, valued at $11,183,398.72. This represents a 52.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares of the company's stock, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,471 shares of company stock worth $23,426,451. Insiders own 0.25% of the company's stock.
Institutional Trading of AbbVie
Hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of AbbVie during the fourth quarter valued at about $4,459,385,000. GAMMA Investing LLC lifted its position in shares of AbbVie by 25,841.6% during the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock valued at $2,144,382,000 after buying an additional 10,195,284 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of AbbVie during the fourth quarter valued at about $1,190,951,000. FMR LLC raised its position in shares of AbbVie by 32.8% in the 4th quarter. FMR LLC now owns 18,097,375 shares of the company's stock valued at $3,215,903,000 after purchasing an additional 4,466,971 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after purchasing an additional 3,599,336 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.
About AbbVie
(
Get Free Report)
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.
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