AbbVie (NYSE:ABBV) Stock Price Up 1.3%

AbbVie Inc. (NYSE:ABBV) rose 1.3% during trading on Tuesday . The company traded as high as $170.16 and last traded at $170.12. Approximately 845,594 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 5,571,998 shares. The stock had previously closed at $167.89.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of analyst reports. BMO Capital Markets upped their price target on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Guggenheim upped their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Raymond James boosted their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, Barclays boosted their price objective on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $177.43.

AbbVie Trading Up 0.9 %

The business has a 50 day moving average of $175.34 and a two-hundred day moving average of $160.42. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The firm has a market capitalization of $299.89 billion, a price-to-earnings ratio of 62.21, a P/E/G ratio of 2.14 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.60 EPS. Equities analysts predict that AbbVie Inc. will post 11.16 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 over the last ninety days. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AbbVie

Institutional investors have recently made changes to their positions in the stock. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of AbbVie during the fourth quarter worth $26,000. Able Wealth Management LLC purchased a new stake in shares of AbbVie during the fourth quarter worth $33,000. IFS Advisors LLC purchased a new stake in shares of AbbVie during the first quarter worth $36,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of AbbVie during the fourth quarter worth $37,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of AbbVie in the first quarter worth $37,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

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.