AbbVie (NYSE:ABBV) Trading Down 0.4% – Time to Sell?

AbbVie Inc. (NYSE:ABBV) traded down 0.4% on Friday . The company traded as low as $192.00 and last traded at $192.15. 670,365 shares were traded during trading, a decline of 89% from the average session volume of 6,128,124 shares. The stock had previously closed at $192.97.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Piper Sandler increased their price target on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Guggenheim raised their price objective on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday. Finally, Bank of America reissued a “neutral” rating and set a $191.00 target price on shares of AbbVie in a report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Trading Down 1.2 %

The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The firm has a 50 day moving average price of $177.38 and a 200 day moving average price of $185.48. The stock has a market capitalization of $336.94 billion, a PE ratio of 79.45, a P/E/G ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the previous year, the company earned $2.79 EPS. Equities analysts expect that AbbVie Inc. will post 12.26 EPS for the current fiscal year.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On AbbVie

Several institutional investors and hedge funds have recently bought and sold shares of ABBV. Sage Mountain Advisors LLC increased its stake in shares of AbbVie by 17.6% in the fourth quarter. Sage Mountain Advisors LLC now owns 13,838 shares of the company’s stock worth $2,459,000 after purchasing an additional 2,074 shares in the last quarter. Riverbend Wealth Management LLC purchased a new position in AbbVie in the 4th quarter valued at approximately $534,000. Channing Capital Management LLC raised its holdings in AbbVie by 9.7% during the 4th quarter. Channing Capital Management LLC now owns 60,798 shares of the company’s stock valued at $10,804,000 after acquiring an additional 5,397 shares during the period. Clare Market Investments LLC bought a new position in AbbVie in the 4th quarter worth about $260,000. Finally, Grant Street Asset Management Inc. grew its stake in AbbVie by 63.3% during the fourth quarter. Grant Street Asset Management Inc. now owns 5,798 shares of the company’s stock valued at $1,030,000 after acquiring an additional 2,247 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

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.