AbbVie Inc. (NYSE:ABBV – Get Free Report) was down 0.4% during mid-day trading on Wednesday . The company traded as low as $154.71 and last traded at $154.76. Approximately 874,670 shares were traded during trading, a decline of 84% from the average daily volume of 5,464,632 shares. The stock had previously closed at $155.34.
Analyst Ratings Changes
A number of analysts have recently issued reports on ABBV shares. Cantor Fitzgerald started coverage on shares of AbbVie in a report on Friday, May 17th. They set an “overweight” rating and a $200.00 price objective for the company. Raymond James boosted their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Barclays lowered their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. BMO Capital Markets lowered their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Finally, Guggenheim boosted their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $176.14.
AbbVie Trading Down 0.3 %
The firm has a market cap of $273.46 billion, a PE ratio of 45.92, a PEG ratio of 2.01 and a beta of 0.61. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The stock’s fifty day simple moving average is $167.02 and its two-hundred day simple moving average is $163.60.
AbbVie (NYSE:ABBV – Get Free Report) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.46 earnings per share. On average, sell-side analysts forecast that AbbVie Inc. will post 11.26 EPS for the current fiscal year.
Insider Transactions at AbbVie
In other news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares in the company, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 163,945 shares of company stock worth $29,073,200. Corporate insiders own 0.25% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vermillion & White Wealth Management Group LLC bought a new position in AbbVie in the fourth quarter worth approximately $26,000. Able Wealth Management LLC purchased a new stake in shares of AbbVie in the fourth quarter worth $33,000. IFS Advisors LLC purchased a new stake in shares of AbbVie in the first quarter worth $36,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of AbbVie in the fourth quarter worth $37,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of AbbVie in the first quarter worth $37,000. Institutional investors own 70.23% of the company’s stock.
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.