AbbVie (NYSE:ABBV) Shares Down 0.6% – Here’s What Happened

Shares of AbbVie Inc. (NYSE:ABBV) traded down 0.6% on Monday . The stock traded as low as $171.21 and last traded at $172.03. 1,282,219 shares were traded during trading, a decline of 82% from the average session volume of 7,086,197 shares. The stock had previously closed at $172.99.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Morgan Stanley reiterated a “hold” rating on shares of AbbVie in a research note on Friday, April 11th. Guggenheim reissued a “buy” rating and issued a $214.00 price target on shares of AbbVie in a report on Thursday. Truist Financial upped their price objective on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Finally, Raymond James restated an “outperform” rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $210.71.

AbbVie Trading Down 2.1 %

The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The company has a fifty day moving average of $198.47 and a 200-day moving average of $187.71. The firm has a market capitalization of $299.47 billion, a PE ratio of 70.54, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter last year, the business posted $2.79 EPS. On average, sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 273.33%.

Insiders Place Their Bets

In other news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the sale, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,471 shares of company stock valued at $23,426,451 in the last three months. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On AbbVie

A number of institutional investors have recently added to or reduced their stakes in ABBV. Blue Bell Private Wealth Management LLC boosted its position in AbbVie by 30.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after buying an additional 52 shares in the last quarter. Steel Grove Capital Advisors LLC raised its position in AbbVie by 1.7% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock valued at $553,000 after purchasing an additional 52 shares during the last quarter. Peninsula Wealth LLC increased its stake in shares of AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock valued at $242,000 after buying an additional 54 shares in the last quarter. Physicians Financial Services Inc. raised its holdings in shares of AbbVie by 0.5% in the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after buying an additional 55 shares during the last quarter. Finally, Connecticut Wealth Management LLC lifted its position in AbbVie by 1.6% during the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock worth $660,000 after buying an additional 57 shares in the last quarter. 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.