AbbVie (NYSE:ABBV) Shares Up 0.1% - What's Next?

AbbVie Inc. (NYSE:ABBV - Get Free Report)'s stock price was up 0.1% during trading on Friday . The stock traded as high as $204.19 and last traded at $202.83. Approximately 1,360,377 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 5,262,060 shares. The stock had previously closed at $202.72.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research reports. Piper Sandler Companies restated an "overweight" rating and set a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Bank of America upped their target price on AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. UBS Group lifted their price target on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Finally, Truist Financial increased their price objective on AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $211.45.

AbbVie Stock Up 2.2 %

The firm has a 50-day simple moving average of $197.50 and a 200 day simple moving average of $188.91. The stock has a market capitalization of $371.19 billion, a P/E ratio of 87.43, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

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AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 quarter in the prior year, the business posted $2.79 earnings per share. On average, equities research analysts forecast 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. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's payout ratio is presently 273.33%.

Insider Activity

In other news, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares of the company's stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the sale, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. The trade was a 62.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,639 shares of company stock valued at $11,067,025. Company insiders own 0.25% of the company's stock.

Institutional Investors Weigh In On AbbVie

A number of large investors have recently bought and sold shares of the stock. Howard Capital Management Group LLC grew its stake in AbbVie by 20.3% in the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company's stock valued at $397,000 after acquiring an additional 339 shares during the period. Principal Financial Group Inc. grew its position in AbbVie by 12.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company's stock valued at $491,204,000 after purchasing an additional 273,078 shares during the period. United Bank bought a new stake in AbbVie during the 3rd quarter valued at $217,000. Quantbot Technologies LP acquired a new position in AbbVie during the third quarter worth $152,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of AbbVie by 85.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 557,332 shares of the company's stock valued at $110,062,000 after buying an additional 256,406 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

About AbbVie

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.