AbbVie (NYSE:ABBV) Shares Down 2.1% - What's Next?

AbbVie Inc. (NYSE:ABBV - Get Free Report) shares dropped 2.1% during trading on Tuesday . The company traded as low as $204.53 and last traded at $204.88. Approximately 1,360,577 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 5,250,727 shares. The stock had previously closed at $209.17.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their target price on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Daiwa Capital Markets lowered AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 target price on the stock. in a research note on Thursday, December 5th. Truist Financial boosted 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. Piper Sandler lifted their price objective on shares of AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Finally, BMO Capital Markets increased their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Five 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. According to data from MarketBeat, AbbVie has an average rating of "Moderate Buy" and a consensus target price of $211.45.

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AbbVie Stock Performance

The company has a market capitalization of $362.85 billion, a price-to-earnings ratio of 85.47, a P/E/G ratio of 1.62 and a beta of 0.61. The stock's 50 day moving average price is $197.50 and its 200 day moving average price is $188.95. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate 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 period last year, the firm earned $2.79 EPS. Analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current 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 paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio is currently 273.33%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the company's 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 transaction, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $3,853,399.04. Following the completion of the transaction, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. This trade represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,639 shares of company stock worth $11,067,025 in the last ninety days. Insiders own 0.25% of the company's stock.

Institutional Investors Weigh In On AbbVie

Hedge funds have recently bought and sold shares of the stock. Howard Capital Management Group LLC boosted its position in shares of 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. raised its stake in AbbVie by 12.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company's stock worth $491,204,000 after purchasing an additional 273,078 shares in the last quarter. United Bank bought a new stake in AbbVie in the 3rd quarter valued at about $217,000. Quantbot Technologies LP bought a new position in shares of AbbVie during the third quarter worth approximately $152,000. Finally, Fred Alger Management LLC raised its position in shares of AbbVie by 17.5% in the third quarter. Fred Alger Management LLC now owns 102,765 shares of the company's stock valued at $20,294,000 after buying an additional 15,332 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.