AbbVie (NYSE:ABBV) Trading Down 3.1%

AbbVie Inc. (NYSE:ABBV)’s stock price was down 3.1% during trading on Thursday . The company traded as low as $132.98 and last traded at $133.08. Approximately 89,620 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 6,673,395 shares. The stock had previously closed at $137.29.

A number of equities research analysts recently commented on ABBV shares. Truist boosted their target price on AbbVie from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 24th. Piper Sandler boosted their price objective on AbbVie from $129.00 to $160.00 in a research note on Monday, January 3rd. The Goldman Sachs Group initiated coverage on AbbVie in a research note on Friday, December 17th. They set a “neutral” rating and a $113.00 price objective on the stock. Morgan Stanley boosted their price objective on AbbVie from $116.00 to $124.00 and gave the stock an “overweight” rating in a research note on Monday, November 1st. Finally, Truist Securities boosted their price objective on AbbVie from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 24th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $136.50.

The business has a fifty day simple moving average of $125.78 and a two-hundred day simple moving average of $117.59. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.01 and a quick ratio of 0.91. The company has a market cap of $240.11 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 2.01 and a beta of 0.86.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, October 28th. The company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.11. The company had revenue of $14.34 billion during the quarter, compared to analyst estimates of $14.30 billion. AbbVie had a return on equity of 166.05% and a net margin of 13.66%. AbbVie’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.83 earnings per share. On average, equities research analysts predict that AbbVie Inc. will post 12.68 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 15th. Shareholders of record on Friday, January 14th will be issued a dividend of $1.41 per share. The ex-dividend date is Thursday, January 13th. This represents a $5.64 dividend on an annualized basis and a yield of 4.15%. This is a positive change from AbbVie’s previous quarterly dividend of $1.30. AbbVie’s dividend payout ratio is currently 134.29%.

In other news, Vice Chairman Laura J. Schumacher sold 181,670 shares of the stock in a transaction on Friday, December 17th. The stock was sold at an average price of $130.24, for a total transaction of $23,660,700.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Brian L. Durkin sold 11,790 shares of the stock in a transaction on Monday, December 20th. The shares were sold at an average price of $128.51, for a total value of $1,515,132.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 478,364 shares of company stock valued at $59,793,977. 0.09% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Spire Wealth Management lifted its holdings in shares of AbbVie by 17.1% during the 4th quarter. Spire Wealth Management now owns 76,899 shares of the company’s stock valued at $10,433,000 after purchasing an additional 11,214 shares during the last quarter. Garrett Investment Advisors LLC increased its position in shares of AbbVie by 129.4% in the 4th quarter. Garrett Investment Advisors LLC now owns 4,319 shares of the company’s stock valued at $585,000 after acquiring an additional 2,436 shares during the period. FourThought Financial LLC increased its position in shares of AbbVie by 84.7% in the 4th quarter. FourThought Financial LLC now owns 21,469 shares of the company’s stock valued at $2,907,000 after acquiring an additional 9,844 shares during the period. Acropolis Investment Management LLC increased its position in shares of AbbVie by 4.1% in the 4th quarter. Acropolis Investment Management LLC now owns 2,419 shares of the company’s stock valued at $327,000 after acquiring an additional 95 shares during the period. Finally, Five Oceans Advisors increased its position in shares of AbbVie by 5.7% in the 4th quarter. Five Oceans Advisors now owns 3,058 shares of the company’s stock valued at $414,000 after acquiring an additional 164 shares during the period. Hedge funds and other institutional investors own 65.36% of the company’s stock.

About AbbVie (NYSE:ABBV)

AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.

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