AbbVie’s (ABBV) Neutral Rating Reiterated at The Goldman Sachs Group

The Goldman Sachs Group reiterated their neutral rating on shares of AbbVie (NYSE:ABBV) in a research report report published on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a $194.00 price target on the stock.

A number of other brokerages have also recently commented on ABBV. Citigroup upped their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Truist Financial upped their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Bank of America lifted their target price on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Finally, Erste Group Bank raised AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Six research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.62.

AbbVie Trading Down 6.2 %

Shares of NYSE ABBV opened at $175.03 on Tuesday. AbbVie has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The firm has a market capitalization of $309.63 billion, a P/E ratio of 72.93, a P/E/G ratio of 1.62 and a beta of 0.55. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The company’s 50 day simple moving average is $200.79 and its 200 day simple moving average is $188.90.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 296.28%. During the same period last year, the company posted $2.79 earnings per share. On average, analysts predict that AbbVie will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.75%. AbbVie’s dividend payout ratio is 273.33%.

Insider Activity at AbbVie

In other news, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were 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. This trade represents a 52.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,471 shares of company stock valued at $23,426,451. 0.25% of the stock is owned by insiders.

Institutional Trading of AbbVie

Several institutional investors and hedge funds have recently bought and sold shares of the business. Groupama Asset Managment raised its stake in AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after acquiring an additional 38,974 shares during the period. Fiduciary Advisors Inc. bought a new position in shares of AbbVie in the fourth quarter valued at about $29,000. EnRich Financial Partners LLC raised its position in shares of AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after purchasing an additional 110 shares during the period. Promus Capital LLC bought a new stake in shares of AbbVie during the 4th quarter worth about $30,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie in the 4th quarter valued at about $31,000. 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.