AbbVie (NYSE:ABBV) Stock Price Down 0.2% – Here’s Why

AbbVie Inc. (NYSE:ABBV)’s stock price fell 0.2% on Monday . The company traded as low as $192.78 and last traded at $193.00. 3,974,116 shares were traded during mid-day trading, a decline of 38% from the average session volume of 6,372,861 shares. The stock had previously closed at $193.45.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ABBV. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Wolfe Research initiated coverage on shares of AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price for the company. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Truist Financial lifted their price objective on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley increased their target price on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Stock Down 0.2 %

The company has a market cap of $341.05 billion, a P/E ratio of 80.42, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a fifty day moving average of $178.93 and a 200 day moving average of $186.04.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period in the previous year, the firm earned $2.79 earnings per share. On average, research analysts anticipate that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.40%. AbbVie’s dividend payout ratio is currently 273.33%.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Atlanta Consulting Group Advisors LLC purchased a new position in AbbVie in the 3rd quarter worth approximately $999,000. Saturna Capital Corp lifted its holdings in shares of AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after buying an additional 560,808 shares in the last quarter. Everence Capital Management Inc. lifted its stake in AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after purchasing an additional 15,550 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of AbbVie by 9.5% during the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after purchasing an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its stake in AbbVie by 23.5% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after buying an additional 10,768 shares during the last quarter. 70.23% of the stock is currently owned by 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.