AbbVie (NYSE:ABBV) Trading Up 0.1% - Here's Why

AbbVie Inc. (NYSE:ABBV - Get Free Report)'s share price rose 0.1% during mid-day trading on Thursday . The company traded as high as $176.01 and last traded at $175.39. Approximately 1,241,937 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 5,698,836 shares. The stock had previously closed at $175.26.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ABBV. Piper Sandler Companies reissued an "overweight" rating and issued a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. BMO Capital Markets dropped their price objective on shares of AbbVie from $228.00 to $208.00 and set an "outperform" rating for the company in a research note on Tuesday, November 12th. Bank of America restated a "neutral" rating and issued a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Leerink Partners upgraded shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price target for the company in a report on Friday, November 22nd. Finally, Daiwa Capital Markets downgraded AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price objective on the stock. in a report on Thursday, December 5th. Five 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.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $205.00.

AbbVie Stock Performance

The stock has a fifty day simple moving average of $176.37 and a two-hundred day simple moving average of $184.90. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock has a market capitalization of $310.21 billion, a price-to-earnings ratio of 60.95, a P/E/G ratio of 1.68 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analysts' expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm's revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.95 earnings per share. Analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This 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 this hyperlink. 0.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AbbVie

A number of institutional investors have recently modified their holdings of ABBV. GGM Financials LLC lifted its stake in shares of AbbVie by 0.7% in the third quarter. GGM Financials LLC now owns 6,895 shares of the company's stock valued at $1,362,000 after buying an additional 50 shares in the last quarter. Pine Haven Investment Counsel Inc raised its holdings in shares of AbbVie by 0.3% in the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company's stock worth $3,575,000 after acquiring an additional 52 shares during the last quarter. Dillon & Associates Inc. lifted its position in AbbVie by 0.8% in the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company's stock valued at $1,362,000 after acquiring an additional 52 shares in the last quarter. First Citizens Financial Corp boosted its stake in AbbVie by 0.9% during the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company's stock valued at $1,141,000 after purchasing an additional 53 shares during the last quarter. Finally, Sunflower Bank N.A. increased its holdings in AbbVie by 0.4% during the 3rd quarter. Sunflower Bank N.A. now owns 13,723 shares of the company's stock worth $2,710,000 after purchasing an additional 53 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Company Profile

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.