AbbVie Inc. (NYSE:ABBV - Get Free Report)'s share price shot up 1.6% during trading on Tuesday . The stock traded as high as $196.84 and last traded at $196.02. 1,760,529 shares were traded during trading, a decline of 69% from the average session volume of 5,752,276 shares. The stock had previously closed at $192.87.
Analysts Set New Price Targets
Several research firms recently commented on ABBV. Argus raised AbbVie from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Truist Financial raised their target price on AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. BMO Capital Markets raised their target price on AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Morgan Stanley raised their target price on AbbVie from $224.00 to $239.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, Piper Sandler lifted their price objective on AbbVie from $212.00 to $220.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $208.35.
Check Out Our Latest Analysis on ABBV
AbbVie Trading Up 0.6 %
The stock has a market cap of $356.64 billion, a P/E ratio of 84.18, a P/E/G ratio of 1.58 and a beta of 0.58. The company has a 50-day moving average price of $180.68 and a two-hundred day moving average price of $186.29. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 17.94.
AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly 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 earned $2.79 EPS. On average, research analysts expect that AbbVie Inc. will post 12.32 EPS for the current fiscal year.
AbbVie Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.25%. AbbVie's payout ratio is 273.33%.
Insiders Place Their Bets
In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.25% of the company's stock.
Hedge Funds Weigh In On AbbVie
Several institutional investors and hedge funds have recently added to or reduced their stakes in ABBV. Groupama Asset Managment boosted its holdings in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock worth $27,000 after acquiring an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie in the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie in the fourth quarter valued at approximately $29,000. EnRich Financial Partners LLC increased its position in shares of AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after buying an additional 110 shares in the last quarter. Finally, Promus Capital LLC purchased a new stake in shares of AbbVie during the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 70.23% of the company's stock.
AbbVie Company Profile
(
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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