AbbVie (NYSE:ABBV) Shares Down 1.9% - Should You Sell?

AbbVie Inc. (NYSE:ABBV - Get Free Report)'s share price dropped 1.9% during mid-day trading on Monday . The stock traded as low as $176.28 and last traded at $183.42. Approximately 3,740,407 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 5,768,494 shares. The stock had previously closed at $186.96.

Analyst Ratings Changes

Several equities analysts recently commented on ABBV shares. Bank of America upped their target price on shares of AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research note 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 research note on Tuesday. StockNews.com downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Wednesday. Piper Sandler raised their price objective on AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Finally, Piper Sandler Companies reissued an "overweight" rating and set a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Six equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $210.71.

AbbVie Trading Up 0.0 %

The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The stock has a market cap of $308.17 billion, a P/E ratio of 72.53, a P/E/G ratio of 1.62 and a beta of 0.55. The company has a 50-day simple moving average of $200.47 and a 200-day simple moving average of $188.60.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the company posted $2.79 EPS. On average, sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 dividend yield of 3.77%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's dividend payout ratio is currently 273.33%.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. The trade was a 52.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction on Thursday, February 20th. The shares were 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 in the company, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,471 shares of company stock worth $23,426,451. Insiders own 0.25% of the company's stock.

Hedge Funds Weigh In On AbbVie

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