AbbVie Inc. (NYSE:ABBV - Get Free Report)'s share price rose 0.6% on Friday . The stock traded as high as $202.16 and last traded at $202.14. Approximately 1,003,202 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 5,691,604 shares. The stock had previously closed at $200.88.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Citigroup upped their price target on shares of AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Truist Financial upped their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a report on Monday, February 3rd. BMO Capital Markets upped their price objective on shares of AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Bank of America reiterated a "neutral" rating and set a $191.00 price objective on shares of AbbVie in a report on Tuesday, December 10th. Finally, Argus upgraded shares of AbbVie from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $208.35.
Check Out Our Latest Analysis on AbbVie
AbbVie Stock Performance
The company has a market cap of $356.64 billion, a PE ratio of 84.18, a PEG ratio of 1.61 and a beta of 0.58. The business's 50-day moving average is $181.25 and its 200 day moving average is $186.41. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.54 and a current ratio of 0.66.
AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results 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 previous year, the firm posted $2.79 earnings per share. On average, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
AbbVie Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is presently 273.33%.
Insider Activity
In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company's stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.25% of the company's stock.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Atlanta Consulting Group Advisors LLC purchased a new position in shares of AbbVie during the third quarter valued at approximately $999,000. Saturna Capital Corp boosted its position in shares of AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock worth $133,531,000 after purchasing an additional 560,808 shares during the period. Everence Capital Management Inc. grew its stake in AbbVie by 41.3% during the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company's stock valued at $9,448,000 after acquiring an additional 15,550 shares in the last quarter. GAMMA Investing LLC grew its stake in AbbVie by 9.5% during the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company's stock valued at $7,011,000 after acquiring an additional 3,439 shares in the last quarter. Finally, Avior Wealth Management LLC grew its stake in AbbVie by 23.5% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company's stock valued at $11,169,000 after acquiring an additional 10,768 shares in 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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