AbbVie (NYSE:ABBV) Shares Up 1.2%

AbbVie Inc. (NYSE:ABBV)’s stock price shot up 1.2% during mid-day trading on Tuesday . The company traded as high as $186.92 and last traded at $186.52. 837,630 shares were traded during trading, a decline of 85% from the average session volume of 5,567,209 shares. The stock had previously closed at $184.36.

Analyst Ratings Changes

A number of research firms recently issued reports on ABBV. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research note on Monday. Wells Fargo & Company boosted their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Piper Sandler reiterated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research note on Tuesday, July 2nd. Truist Financial reiterated a “buy” rating and set a $210.00 price objective (up from $195.00) on shares of AbbVie in a research note on Friday, July 26th. Finally, HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research note on Wednesday, June 5th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $188.71.

AbbVie Price Performance

The company has a market capitalization of $336.06 billion, a PE ratio of 56.19, a PEG ratio of 2.49 and a beta of 0.64. The firm has a fifty day moving average of $172.09 and a two-hundred day moving average of $170.89. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last released 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. AbbVie had a return on equity of 186.82% and a net margin of 9.71%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter last year, the business posted $2.91 EPS. The business’s revenue was up 4.3% on a year-over-year basis. Research analysts anticipate that AbbVie Inc. will post 10.87 EPS for the current fiscal 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 issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.26%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Insiders Place Their Bets

In related news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction that occurred 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 in the company, valued at $89,792,325. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction that occurred 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 in the company, valued at $89,792,325. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vermillion & White Wealth Management Group LLC purchased a new position in shares of AbbVie in the fourth quarter worth $26,000. Ridgewood Investments LLC purchased a new position in shares of AbbVie in the second quarter worth $27,000. Able Wealth Management LLC purchased a new position in shares of AbbVie in the fourth quarter worth $33,000. IFS Advisors LLC purchased a new position in shares of AbbVie in the first quarter worth $36,000. Finally, Quest Partners LLC raised its stake in shares of AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

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.