AbbVie (NYSE:ABBV) Stock Price Down 0.4% – Here’s Why

Shares of AbbVie Inc. (NYSE:ABBV) traded down 0.4% during trading on Friday . The company traded as low as $192.00 and last traded at $192.15. 670,365 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 6,128,124 shares. The stock had previously closed at $192.97.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Piper Sandler Companies restated an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Wells Fargo & Company raised their target price on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Stock Performance

The stock has a market cap of $336.94 billion, a price-to-earnings ratio of 79.45, a P/E/G ratio of 1.84 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm has a fifty day simple moving average of $177.38 and a 200-day simple moving average of $185.48.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the firm posted $2.79 EPS. Analysts forecast that AbbVie Inc. will post 12.26 EPS for the current fiscal year.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’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 transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On AbbVie

A number of hedge funds and other institutional investors have recently bought and sold shares of ABBV. AMF Tjanstepension AB bought a new stake in shares of AbbVie during the 3rd quarter valued at $8,777,000. West Financial Advisors LLC lifted its position in AbbVie by 16.6% during the third quarter. West Financial Advisors LLC now owns 766 shares of the company’s stock worth $151,000 after purchasing an additional 109 shares during the period. CWM LLC grew its stake in AbbVie by 6.7% during the third quarter. CWM LLC now owns 245,019 shares of the company’s stock worth $48,386,000 after buying an additional 15,388 shares in the last quarter. Wedmont Private Capital increased its holdings in AbbVie by 5.0% in the 3rd quarter. Wedmont Private Capital now owns 22,168 shares of the company’s stock valued at $4,292,000 after buying an additional 1,051 shares during the period. Finally, Adirondack Trust Co. raised its position in shares of AbbVie by 1.9% in the 3rd quarter. Adirondack Trust Co. now owns 16,240 shares of the company’s stock valued at $3,207,000 after buying an additional 301 shares in 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.