Shares of AbbVie Inc. (NYSE:ABBV - Get Free Report) were up 0.4% on Friday following a dividend announcement from the company. The stock traded as high as $195.18 and last traded at $194.24. Approximately 974,814 shares were traded during trading, a decline of 83% from the average daily volume of 5,784,168 shares. The stock had previously closed at $193.45.
The newly announced dividend which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is 273.33%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on ABBV shares. Truist Financial raised their price objective on AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Piper Sandler Companies reissued an "overweight" rating and set a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Piper Sandler lifted their target price on AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. UBS Group lifted their target price on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Finally, Daiwa America downgraded AbbVie from a "strong-buy" rating to a "hold" rating in a report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $208.35.
Read Our Latest Research Report on AbbVie
AbbVie Price Performance
The firm has a market capitalization of $341.05 billion, a P/E ratio of 80.42, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. The business has a 50-day moving average of $178.93 and a 200 day moving average of $186.04. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.
AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period last year, the company posted $2.79 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.
Insider Transactions at AbbVie
In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company's 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.25% of the company's stock.
Hedge Funds Weigh In On AbbVie
Several institutional investors have recently bought and sold shares of ABBV. Groupama Asset Managment lifted its stake in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock valued at $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in AbbVie in the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. purchased a new position in AbbVie in the fourth quarter valued at approximately $29,000. EnRich Financial Partners LLC lifted its stake in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Finally, Promus Capital LLC purchased a new position in AbbVie in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 70.23% of the company's stock.
AbbVie Company Profile
(
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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