AbbVie (NYSE:ABBV) Shares Down 0.1%

AbbVie Inc. (NYSE:ABBV) fell 0.1% during trading on Monday . The company traded as low as $170.32 and last traded at $171.38. 1,208,436 shares were traded during mid-day trading, a decline of 79% from the average session volume of 5,640,471 shares. The stock had previously closed at $171.52.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ABBV shares. Guggenheim lifted 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. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research note on Wednesday. Barclays cut their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Piper Sandler restated an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research report on Tuesday. Finally, HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research report on Wednesday, June 5th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.07.

AbbVie Price Performance

The company has a 50-day moving average of $164.65 and a two-hundred day moving average of $167.74. The stock has a market capitalization of $293.08 billion, a PE ratio of 49.25, a P/E/G ratio of 2.19 and a beta of 0.64. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the business posted $2.46 EPS. Sell-side analysts predict that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.74%. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Hedge Funds Weigh In On AbbVie

Large investors have recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at about $26,000. Able Wealth Management LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at about $33,000. IFS Advisors LLC acquired a new stake in AbbVie during the 1st quarter valued at approximately $36,000. Ables Iannone Moore & Associates Inc. acquired a new stake in AbbVie during the 4th quarter valued at approximately $37,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in AbbVie during the 1st quarter valued at approximately $37,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

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.