AbbVie (NYSE:ABBV) Trading Down 0.3%

Shares of AbbVie Inc. (NYSE:ABBV) fell 0.3% during mid-day trading on Monday . The stock traded as low as $168.21 and last traded at $168.23. 463,006 shares were traded during trading, a decline of 92% from the average session volume of 5,554,840 shares. The stock had previously closed at $168.73.

Analysts Set New Price Targets

Several research firms recently issued reports on ABBV. Piper Sandler reissued an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research report on Tuesday, July 2nd. Piper Sandler Companies restated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research note on Wednesday, July 3rd. Morgan Stanley upped their price objective on AbbVie from $191.00 to $196.00 and gave the stock an “overweight” rating in a research note on Thursday. BMO Capital Markets lowered their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Finally, Guggenheim upped their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $182.69.

AbbVie Price Performance

The stock has a 50 day moving average of $165.23 and a two-hundred day moving average of $168.58. The stock has a market cap of $296.60 billion, a PE ratio of 49.92, a PEG ratio of 2.19 and a beta of 0.64. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the company posted $2.46 EPS. The business’s quarterly revenue was up .7% compared to the same quarter last year. Equities analysts anticipate that AbbVie Inc. will post 10.8 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.69%. AbbVie’s payout ratio is presently 183.98%.

Institutional Investors Weigh In On AbbVie

Several institutional investors have recently made changes to their positions in ABBV. Norges Bank acquired a new stake in shares of AbbVie during the 4th quarter valued at about $3,229,888,000. Vanguard Group Inc. raised its stake in shares of AbbVie by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after acquiring an additional 9,978,415 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of AbbVie in the 4th quarter valued at approximately $499,955,000. Capital World Investors raised its stake in shares of AbbVie by 249.1% in the 1st quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock valued at $796,357,000 after acquiring an additional 3,120,310 shares in the last quarter. Finally, Capital International Investors raised its stake in shares of AbbVie by 6.9% in the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock valued at $8,758,789,000 after acquiring an additional 3,110,601 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

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.