AbbVie (NYSE:ABBV) Stock Price Up 0.4% - Time to Buy?

AbbVie Inc. (NYSE:ABBV - Get Free Report) rose 0.4% on Friday . The company traded as high as $212.42 and last traded at $212.39. Approximately 784,049 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 6,037,558 shares. The stock had previously closed at $211.55.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ABBV. UBS Group lifted their target price on AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Daiwa America cut shares of AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Thursday, December 5th. Piper Sandler upped their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Wolfe Research began coverage on shares of AbbVie in a report on Friday, November 15th. They issued an "outperform" rating and a $205.00 price target on the stock. Finally, BMO Capital Markets boosted their price target on shares of AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $211.45.

AbbVie Trading Down 0.3 %

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 company has a market capitalization of $372.31 billion, a P/E ratio of 87.90, a PEG ratio of 1.62 and a beta of 0.61. The company's fifty day simple moving average is $190.48 and its 200-day simple moving average is $188.06.

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AbbVie (NYSE:ABBV - Get Free Report) last posted 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 net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the previous year, the firm posted $2.79 EPS. Research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company 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 $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's payout ratio is 273.33%.

Insider Buying and Selling

In related news, EVP Timothy J. Richmond sold 29,917 shares of the business'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 completion of the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kevin K. Buckbee sold 1,800 shares of the 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 sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,439 shares of company stock worth $11,377,057. 0.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Groupama Asset Managment lifted its stake in AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock valued at $27,000 after buying an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie during the 4th quarter worth about $29,000. EnRich Financial Partners LLC lifted its holdings in shares of AbbVie by 196.4% in the 4th 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. Finally, Promus Capital LLC acquired a new position in AbbVie during the fourth quarter worth $30,000. 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.

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