AbbVie (NYSE:ABBV) Shares Down 0.8% - Time to Sell?

AbbVie Inc. (NYSE:ABBV - Get Free Report)'s share price fell 0.8% during trading on Wednesday . The company traded as low as $209.31 and last traded at $211.78. 1,562,848 shares changed hands during trading, a decline of 74% from the average session volume of 6,056,749 shares. The stock had previously closed at $213.59.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research analyst reports. Leerink Partnrs raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. Raymond James reissued an "outperform" rating and issued a $220.00 target price (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Daiwa Capital Markets lowered shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price objective for the company. in a report on Thursday, December 5th. BMO Capital Markets upped their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Finally, Morgan Stanley increased their price target on AbbVie from $224.00 to $239.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $211.45.

AbbVie Stock Performance

The company has a market cap of $375.24 billion, a PE ratio of 88.64, a PEG ratio of 1.62 and a beta of 0.61. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The business's 50 day moving average is $189.16 and its two-hundred day moving average is $187.73.

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AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period in the previous year, the company earned $2.79 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.09%. AbbVie's dividend payout ratio is 273.33%.

Insider Activity

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,439 shares of company stock worth $11,377,057 over the last 90 days. Corporate insiders own 0.25% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in shares of AbbVie in the 4th quarter valued at approximately $4,459,385,000. Raymond James Financial Inc. bought a new stake in AbbVie in the fourth quarter worth $1,190,951,000. FMR LLC lifted its position in AbbVie by 32.8% in the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock worth $3,215,903,000 after buying an additional 4,466,971 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after buying an additional 3,599,336 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of AbbVie by 24.3% in the fourth quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company's stock valued at $3,064,773,000 after acquiring an additional 3,373,156 shares during the period. 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.

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