AbbVie (NYSE:ABBV) Trading Down 1% – Should You Sell?

AbbVie Inc. (NYSE:ABBV)’s share price traded down 1% during trading on Tuesday . The stock traded as low as $184.06 and last traded at $183.91. 1,032,871 shares traded hands during trading, a decline of 83% from the average session volume of 6,223,460 shares. The stock had previously closed at $185.71.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ABBV shares. Wells Fargo & Company increased their price objective on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Evercore ISI lifted their price target on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, April 28th. BMO Capital Markets raised their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Raymond James reaffirmed an “outperform” rating and set a $220.00 target price (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $210.95.

AbbVie Stock Down 0.4%

The business’s 50 day simple moving average is $190.77 and its 200-day simple moving average is $186.73. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The company has a market cap of $326.77 billion, a price-to-earnings ratio of 76.76, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter last year, the firm earned $2.31 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This trade represents a 62.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares of the company’s stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock worth $23,426,451 over the last ninety days. 0.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Integrity Alliance LLC. grew its holdings in AbbVie by 974.6% in the 1st quarter. Integrity Alliance LLC. now owns 22,802 shares of the company’s stock valued at $4,778,000 after buying an additional 20,680 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in shares of AbbVie in the first quarter worth $2,769,000. Glenview Trust co raised its stake in AbbVie by 0.5% during the 1st quarter. Glenview Trust co now owns 413,109 shares of the company’s stock valued at $86,555,000 after purchasing an additional 1,974 shares during the last quarter. Aspen Investment Management Inc boosted its holdings in AbbVie by 6.5% in the 1st quarter. Aspen Investment Management Inc now owns 4,533 shares of the company’s stock valued at $950,000 after purchasing an additional 277 shares during the period. Finally, SageView Advisory Group LLC grew its position in AbbVie by 2.6% in the 1st quarter. SageView Advisory Group LLC now owns 18,404 shares of the company’s stock worth $3,856,000 after purchasing an additional 474 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Company Profile

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.