AbbVie (NYSE:ABBV) Trading Down 1.4% – Here’s What Happened

AbbVie Inc. (NYSE:ABBV) fell 1.4% during trading on Tuesday . The stock traded as low as $173.83 and last traded at $174.10. 763,850 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 5,504,375 shares. The stock had previously closed at $176.57.

Analyst Ratings Changes

Several research firms recently commented on ABBV. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Piper Sandler lifted their price objective on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Barclays raised their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Wolfe Research assumed coverage on AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price on the stock. Finally, Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.19.

AbbVie Trading Down 0.4 %

The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock has a market capitalization of $310.86 billion, a PE ratio of 60.45, a PEG ratio of 2.01 and a beta of 0.58. The stock has a 50-day moving average price of $186.35 and a two-hundred day moving average price of $182.67.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $2.95 EPS. As a group, equities analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Institutional Trading of AbbVie

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC bought a new stake in AbbVie in the 3rd quarter worth approximately $28,000. Fairway Wealth LLC bought a new stake in AbbVie in the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC bought a new stake in AbbVie in the 2nd quarter worth approximately $27,000. Marquette Asset Management LLC bought a new position in shares of AbbVie during the 3rd quarter valued at approximately $39,000. Finally, Mizuho Securities Co. Ltd. increased its position in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. 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.