AbbVie (NYSE:ABBV) Stock Price Up 0.6% - Time to Buy?

AbbVie Inc. (NYSE:ABBV - Get Free Report)'s stock price traded up 0.6% on Friday . The company traded as high as $175.20 and last traded at $172.78. 8,474,425 shares were traded during mid-day trading, an increase of 41% from the average session volume of 5,997,458 shares. The stock had previously closed at $171.68.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ABBV shares. Wells Fargo & Company boosted their price objective on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Bank of America lifted their price target on AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Guggenheim reissued a "buy" rating and set a $214.00 target price on shares of AbbVie in a research note on Thursday, April 17th. Finally, Morgan Stanley reiterated a "hold" rating on shares of AbbVie in a report on Friday, April 11th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $211.19.

AbbVie Stock Performance

The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm has a 50-day moving average of $198.01 and a 200 day moving average of $187.54. The stock has a market capitalization of $307.31 billion, a P/E ratio of 72.38, a PEG ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts' consensus estimates 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 quarter in the prior year, the company earned $2.79 EPS. Research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal 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 of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.78%. AbbVie's dividend payout ratio (DPR) is presently 273.33%.

Insider Buying and Selling at AbbVie

In other news, EVP Perry C. Siatis sold 5,778 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were 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 of the company's stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares of the company's stock, valued at $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,471 shares of company stock valued at $23,426,451. 0.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AbbVie

A number of hedge funds have recently added to or reduced their stakes in ABBV. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $29,000. EnRich Financial Partners LLC raised its position in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after acquiring an additional 110 shares during the last quarter. Promus Capital LLC bought a new position in AbbVie in the fourth quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in AbbVie during the 4th quarter worth about $31,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of AbbVie in the 4th quarter valued at about $32,000. Institutional investors own 70.23% of the company's stock.

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.