AbbVie Inc. (NYSE:ABBV - Get Free Report)'s stock price rose 1.2% during mid-day trading on Thursday . The stock traded as high as $199.79 and last traded at $199.70. Approximately 711,943 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 5,704,604 shares. The stock had previously closed at $197.35.
Analysts Set New Price Targets
ABBV has been the subject of several research reports. Wolfe Research assumed coverage on shares of AbbVie in a research report on Friday, November 15th. They set an "outperform" rating and a $205.00 price target for the company. Raymond James reaffirmed an "outperform" rating and set a $220.00 target price (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Bank of America reiterated a "neutral" rating and set a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. Piper Sandler Companies restated an "overweight" rating and issued a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Finally, Morgan Stanley boosted their price target on AbbVie from $224.00 to $239.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. 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. According to MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus price target of $208.35.
View Our Latest Stock Report on AbbVie
AbbVie Stock Performance
The company has a market cap of $356.64 billion, a P/E ratio of 84.18, a P/E/G ratio of 1.61 and a beta of 0.58. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.54. The business has a 50-day moving average of $181.25 and a two-hundred day moving average of $186.41.
AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data 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 in the previous year, the business posted $2.79 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
AbbVie Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.25%. AbbVie's payout ratio is currently 273.33%.
Insider Activity at AbbVie
In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares of the company's stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABBV. AMF Tjanstepension AB acquired a new stake in AbbVie during the third quarter worth about $8,777,000. Swedbank AB grew its stake in shares of AbbVie by 0.3% during the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company's stock worth $424,014,000 after purchasing an additional 6,810 shares during the period. Howard Capital Management Group LLC increased its holdings in shares of AbbVie by 20.3% during the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company's stock valued at $397,000 after purchasing an additional 339 shares in the last quarter. American Institute for Advanced Investment Management LLP lifted its stake in shares of AbbVie by 1.2% in the 3rd quarter. American Institute for Advanced Investment Management LLP now owns 8,512 shares of the company's stock valued at $1,681,000 after purchasing an additional 101 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in AbbVie by 59.5% during the third quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company's stock worth $414,088,000 after buying an additional 781,858 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.
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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