AbbVie (NYSE:ABBV) Trading 1% Higher - What's Next?

AbbVie Inc. (NYSE:ABBV - Get Free Report)'s share price traded up 1% during mid-day trading on Monday . The stock traded as high as $205.28 and last traded at $204.01. 1,147,665 shares were traded during mid-day trading, a decline of 80% from the average session volume of 5,699,005 shares. The stock had previously closed at $202.08.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Piper Sandler Companies reaffirmed an "overweight" rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Argus raised shares of AbbVie from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Piper Sandler lifted their target price on AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Leerink Partnrs upgraded AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 22nd. Finally, Morgan Stanley raised their price objective on AbbVie from $224.00 to $239.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Five 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 company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $208.35.

AbbVie Stock Performance

The stock has a 50-day moving average of $181.25 and a 200 day moving average of $186.41. The firm has a market capitalization of $361.21 billion, a P/E ratio of 85.28, a price-to-earnings-growth ratio of 1.61 and a beta of 0.58. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.54 and a current ratio of 0.66.

AbbVie (NYSE:ABBV - Get Free Report) last announced its 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 return on equity of 296.28% and a net margin of 7.59%. During the same period in the prior year, the firm posted $2.79 EPS. On average, research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.21%. AbbVie's payout ratio is 273.33%.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Atlanta Consulting Group Advisors LLC acquired a new stake in AbbVie during the 3rd quarter worth $999,000. Saturna Capital Corp boosted its position in shares of AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock worth $133,531,000 after purchasing an additional 560,808 shares during the last quarter. Everence Capital Management Inc. grew its stake in shares of AbbVie by 41.3% during the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company's stock worth $9,448,000 after purchasing an additional 15,550 shares during the period. GAMMA Investing LLC increased its holdings in AbbVie by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company's stock valued at $7,011,000 after purchasing an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake in AbbVie by 23.5% in the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company's stock valued at $11,169,000 after buying an additional 10,768 shares during the period. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.