AbbVie (NYSE:ABBV) Shares Down 0.8%

Shares of AbbVie Inc. (NYSE:ABBV) fell 0.8% during trading on Thursday . The company traded as low as $169.67 and last traded at $169.77. 610,320 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 5,484,677 shares. The stock had previously closed at $171.15.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ABBV shares. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research report on Wednesday, June 5th. Guggenheim raised their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Piper Sandler upped their price target 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. Barclays reduced their target price 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. Finally, BMO Capital Markets dropped their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $179.64.

AbbVie Trading Up 1.5 %

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 firm’s 50-day simple moving average is $164.60 and its 200 day simple moving average is $167.44. The stock has a market capitalization of $302.88 billion, a P/E ratio of 50.90, a PEG ratio of 2.16 and a beta of 0.60.

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 business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business earned $2.46 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Hedge Funds Weigh In On AbbVie

A number of institutional investors have recently bought and sold shares of the stock. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of AbbVie in the 4th quarter valued at approximately $26,000. Able Wealth Management LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at $33,000. IFS Advisors LLC acquired a new stake in shares of AbbVie in the first quarter worth $36,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of AbbVie during the fourth quarter valued at $37,000. Finally, Redmont Wealth Advisors LLC acquired a new position in AbbVie during the first quarter valued at $37,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

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.