AbbVie Inc. (NYSE:ABBV - Get Free Report)'s share price rose 1.2% during mid-day trading on Thursday . The company 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.
Wall Street Analyst Weigh In
ABBV has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on shares of AbbVie from $224.00 to $239.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Guggenheim lifted their price target on shares of AbbVie from $212.00 to $214.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Wells Fargo & Company lifted their target price on shares of AbbVie from $195.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target on AbbVie from $210.00 to $200.00 and set an "overweight" rating on the stock in a report on Wednesday, November 13th. Finally, Piper Sandler Companies reiterated an "overweight" rating and set a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $208.35.
Check Out Our Latest Report on AbbVie
AbbVie Price Performance
The firm has a market capitalization of $361.10 billion, a P/E ratio of 85.24, 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. The business has a fifty day moving average of $181.25 and a 200-day moving average of $186.41.
AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share 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 business earned $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 firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. 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 currently 273.33%.
Insider Activity
In related news, 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 completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.25% of the company's stock.
Institutional Investors Weigh In On AbbVie
Several hedge funds and other institutional investors have recently made changes to their positions in ABBV. Vanguard Group Inc. grew its position in AbbVie by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock worth $30,754,908,000 after buying an additional 1,424,237 shares in the last quarter. State Street Corp raised its position in AbbVie by 1.6% in the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company's stock worth $15,614,329,000 after purchasing an additional 1,267,685 shares during the last quarter. Geode Capital Management LLC grew its holdings in AbbVie by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock worth $6,586,948,000 after acquiring an additional 983,888 shares during the period. Capital Research Global Investors grew its holdings in AbbVie by 2.3% during the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock worth $6,038,898,000 after acquiring an additional 778,126 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in AbbVie by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after acquiring an additional 3,599,336 shares during the period. 70.23% of the stock is 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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