AbbVie (NYSE:ABBV) Trading 0.2% Higher

AbbVie Inc. (NYSE:ABBV) shares were up 0.2% during mid-day trading on Friday . The company traded as high as $170.69 and last traded at $169.37. Approximately 804,916 shares changed hands during trading, a decline of 85% from the average daily volume of 5,485,418 shares. The stock had previously closed at $168.99.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ABBV shares. Guggenheim increased their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. BMO Capital Markets dropped their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Barclays dropped their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Piper Sandler increased their target price on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Thursday, June 20th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $179.64.

AbbVie Stock Performance

The company has a market capitalization of $299.90 billion, a PE ratio of 50.26, a PEG ratio of 2.19 and a beta of 0.60. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The company has a 50 day moving average price of $164.41 and a 200 day moving average price of $167.29.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business posted $2.46 EPS. Equities analysts forecast that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Institutional Investors Weigh In On AbbVie

Institutional investors and hedge funds have recently made changes to their positions in the company. American National Bank raised its position in shares of AbbVie by 4.8% during the 4th quarter. American National Bank now owns 59,392 shares of the company’s stock valued at $9,204,000 after acquiring an additional 2,695 shares in the last quarter. AXS Investments LLC raised its position in shares of AbbVie by 3.3% during the 4th quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock valued at $1,477,000 after acquiring an additional 307 shares in the last quarter. TCI Wealth Advisors Inc. raised its position in shares of AbbVie by 1.0% during the 4th quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock valued at $2,641,000 after acquiring an additional 165 shares in the last quarter. Mizuho Markets Americas LLC raised its position in shares of AbbVie by 33.4% during the 4th quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock valued at $4,791,000 after acquiring an additional 7,737 shares in the last quarter. Finally, Amplius Wealth Advisors LLC raised its position in shares of AbbVie by 17.6% during the 4th quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock valued at $413,000 after acquiring an additional 400 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

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.