AbbVie Inc. (NYSE:ABBV - Get Free Report) shares rose 1.7% on Friday . The stock traded as high as $188.70 and last traded at $183.46. Approximately 3,493,687 shares traded hands during trading, a decline of 42% from the average daily volume of 6,036,203 shares. The stock had previously closed at $180.37.
Wall Street Analysts Forecast Growth
ABBV has been the subject of several analyst reports. 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 upped their price objective on shares of AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Cantor Fitzgerald began coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 target price on the stock. Truist Financial upped their price target on shares of AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company boosted their target price on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.19.
Get Our Latest Analysis on ABBV
AbbVie Price Performance
The firm has a market cap of $328.96 billion, a price-to-earnings ratio of 77.48, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. The stock's 50-day moving average price is $196.85 and its 200 day moving average price is $187.13. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.
AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, missing analysts' consensus estimates of $2.51 by ($0.05). The business had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the previous year, the business posted $2.31 earnings per share. Equities 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. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Tuesday, April 15th. AbbVie's payout ratio is 279.15%.
Insiders Place Their Bets
In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the business's stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 22,381 shares of the company's stock, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,471 shares of company stock valued at $23,426,451. 0.25% of the stock is currently owned by insiders.
Institutional Trading of AbbVie
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABBV. Dimensional Fund Advisors LP boosted its stake in AbbVie by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock valued at $1,664,489,000 after acquiring an additional 108,993 shares during the last quarter. Quantbot Technologies LP boosted its position in shares of AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after purchasing an additional 276 shares during the last quarter. Everence Capital Management Inc. increased its holdings in AbbVie by 41.3% in the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company's stock valued at $9,448,000 after purchasing an additional 15,550 shares during the last quarter. GAMMA Investing LLC lifted its stake 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 buying an additional 3,439 shares during the period. Finally, Sky Investment Group LLC boosted its holdings in AbbVie by 10.1% during the fourth quarter. Sky Investment Group LLC now owns 42,715 shares of the company's stock worth $7,590,000 after buying an additional 3,936 shares during 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.
Recommended Stories
Before you consider AbbVie, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AbbVie wasn't on the list.
While AbbVie currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
