AbbVie (NYSE:ABBV) Trading Down 3.1%

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

ABBV has been the topic of several recent analyst reports. Wells Fargo & Company initiated coverage on shares of AbbVie in a research report on Wednesday, December 8th. They set an “overweight” rating and a $165.00 target price on the stock. Truist increased their price target on shares of AbbVie from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 24th. BMO Capital Markets increased their price target on shares of AbbVie from $134.00 to $153.00 and gave the company an “outperform” rating in a research report on Wednesday. Redburn Partners started coverage on shares of AbbVie in a research report on Thursday. They issued a “buy” rating on the stock. Finally, Barclays increased their price target on shares of AbbVie from $112.00 to $118.00 and gave the company an “equal weight” rating in a research report on Monday, November 1st. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, AbbVie has an average rating of “Buy” and an average target price of $136.50.

The firm’s 50-day moving average price is $125.78 and its 200-day moving average price is $117.59. The company has a market cap of $240.11 billion, a price-to-earnings ratio of 32.35, a price-to-earnings-growth ratio of 2.01 and a beta of 0.86. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.01 and a quick ratio of 0.91.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, October 28th. The company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 13.66% and a return on equity of 166.05%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.83 earnings per share. On average, sell-side analysts anticipate that AbbVie Inc. will post 12.68 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 15th. Investors of record on Friday, January 14th will be issued a dividend of $1.41 per share. 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. The ex-dividend date is Thursday, January 13th. AbbVie’s dividend payout ratio (DPR) is presently 134.29%.

In other AbbVie news, VP Brian L. Durkin sold 11,790 shares of the firm’s stock in a transaction on Monday, December 20th. The shares were sold at an average price of $128.51, for a total transaction of $1,515,132.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy J. Richmond sold 50,350 shares of the firm’s stock in a transaction on Monday, December 6th. The stock was sold at an average price of $120.00, for a total transaction of $6,042,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 478,364 shares of company stock valued at $59,793,977. Company insiders own 0.09% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of AbbVie by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 144,693,566 shares of the company’s stock worth $16,298,283,000 after buying an additional 959,620 shares during the last quarter. BlackRock Inc. lifted its position in shares of AbbVie by 3.5% in the 3rd quarter. BlackRock Inc. now owns 126,839,439 shares of the company’s stock worth $13,682,169,000 after buying an additional 4,247,445 shares during the last quarter. State Street Corp lifted its position in AbbVie by 0.6% in the 2nd quarter. State Street Corp now owns 75,963,304 shares of the company’s stock valued at $8,556,507,000 after purchasing an additional 467,356 shares during the last quarter. Geode Capital Management LLC lifted its position in AbbVie by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,760,592 shares of the company’s stock valued at $2,985,727,000 after purchasing an additional 515,643 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in AbbVie by 0.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 21,090,468 shares of the company’s stock valued at $2,275,029,000 after purchasing an additional 94,954 shares during the last quarter. 65.36% of the stock is owned by institutional investors.

AbbVie Company Profile (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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