AbbVie (NYSE:ABBV) Shares Down 0.1%

AbbVie Inc. (NYSE:ABBV)’s share price was down 0.1% during mid-day trading on Wednesday . The company traded as low as $183.59 and last traded at $186.54. Approximately 926,491 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 5,542,578 shares. The stock had previously closed at $186.78.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ABBV shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research report on Friday, July 26th. BMO Capital Markets lifted their target price on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research report on Wednesday, July 3rd. Piper Sandler reissued an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research report on Tuesday, July 2nd. Finally, Wells Fargo & Company boosted their price target on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $188.71.

AbbVie Stock Down 0.8 %

The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The stock has a market cap of $327.25 billion, a P/E ratio of 55.38, a PEG ratio of 2.39 and a beta of 0.64. The firm has a 50-day simple moving average of $168.50 and a two-hundred day simple moving average of $169.93.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 186.82% and a net margin of 9.71%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.91 EPS. Equities research analysts expect that AbbVie Inc. will post 10.86 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Insider Transactions at AbbVie

In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the sale, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is currently owned by insiders.

Institutional Trading of AbbVie

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of AbbVie by 6.2% during the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after acquiring an additional 9,978,415 shares during the last quarter. Capital International Investors grew its stake in AbbVie by 6.9% in the first 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 during the period. Capital Research Global Investors grew its stake in AbbVie by 3.3% in the first quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock valued at $5,698,847,000 after acquiring an additional 992,496 shares during the period. Charles Schwab Investment Management Inc. grew its stake in AbbVie by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after acquiring an additional 1,702,415 shares during the period. Finally, Norges Bank acquired a new stake in AbbVie in the fourth quarter valued at approximately $3,229,888,000. 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.