AbbVie (NYSE:ABBV) Stock Price Down 0.1% – Here’s What Happened

AbbVie Inc. (NYSE:ABBV)’s stock price traded down 0.1% during mid-day trading on Tuesday . The stock traded as low as $187.05 and last traded at $189.88. 1,743,638 shares traded hands during trading, a decline of 72% from the average session volume of 6,159,778 shares. The stock had previously closed at $190.14.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a report on Thursday, December 5th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Finally, BMO Capital Markets boosted their price objective on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday. Five equities research 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Trading Down 0.2 %

The company has a market capitalization of $335.44 billion, a P/E ratio of 79.09, a PEG ratio of 1.84 and a beta of 0.58. The business has a 50 day moving average price of $176.84 and a 200 day moving average price of $185.26. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same quarter in the prior year, the firm earned $2.79 earnings per share. Analysts anticipate that AbbVie Inc. will post 12.26 EPS for the current year.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by company insiders.

Institutional Trading of AbbVie

Several institutional investors have recently added to or reduced their stakes in ABBV. Groupama Asset Managment grew its holdings in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie during the third quarter worth about $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie in the fourth quarter valued at $29,000. Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie during the fourth quarter valued at about $35,000. Finally, Marquette Asset Management LLC bought a new position in shares of AbbVie in the 3rd quarter worth $39,000. 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.