AbbVie (NYSE:ABBV) Trading Down 0.5%

Shares of AbbVie Inc. (NYSE:ABBVGet Free Report) fell 0.5% during trading on Friday . The stock traded as low as $169.59 and last traded at $171.34. 2,095,573 shares changed hands during trading, a decline of 61% from the average session volume of 5,430,707 shares. The stock had previously closed at $172.13.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ABBV. Guggenheim upped their price target 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. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research report on Wednesday, June 5th. BMO Capital Markets dropped their price target 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 price target 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $179.64.

Get Our Latest Report on ABBV

AbbVie Stock Down 0.9 %

The firm has a market capitalization of $301.12 billion, a PE ratio of 50.84, a P/E/G ratio of 2.19 and a beta of 0.60. The firm’s 50 day moving average price is $163.72 and its two-hundred day moving average price is $166.45. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBVGet Free Report) last announced its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share 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 the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.46 earnings per share. As a group, research analysts forecast that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company 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 $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.64%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. TruNorth Capital Management LLC bought a new position in AbbVie during the 1st quarter valued at $252,000. Keynote Financial Services LLC bought a new position in AbbVie during the 1st quarter valued at $7,426,000. IMS Capital Management boosted its stake in AbbVie by 0.4% during the 1st quarter. IMS Capital Management now owns 17,713 shares of the company’s stock valued at $3,226,000 after acquiring an additional 73 shares during the last quarter. Jackson Wealth Management LLC bought a new position in AbbVie during the 1st quarter valued at $209,000. Finally, American Trust boosted its stake in AbbVie by 5.2% during the 1st quarter. American Trust now owns 7,166 shares of the company’s stock valued at $1,305,000 after acquiring an additional 357 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Company Profile

(Get Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Beh├žet'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.

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