AbbVie Inc. (NYSE:ABBV) SVP Kevin K. Buckbee Sells 1,800 Shares

AbbVie Inc. (NYSE:ABBV) SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

AbbVie Stock Performance

Shares of ABBV stock opened at $175.58 on Friday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The business has a fifty day moving average of $182.56 and a 200 day moving average of $183.34. The firm has a market capitalization of $310.27 billion, a price-to-earnings ratio of 60.97, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. AbbVie Inc. has a 1 year low of $151.29 and a 1 year high of $207.32.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the previous year, the company posted $2.95 earnings per share. The company’s revenue was up 3.8% compared to the same quarter last year. As a group, research analysts expect that AbbVie Inc. will post 10.96 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 issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.74%. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 227.78%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vicus Capital boosted its position in AbbVie by 32.4% in the 2nd quarter. Vicus Capital now owns 3,015 shares of the company’s stock worth $517,000 after purchasing an additional 738 shares in the last quarter. Joule Financial LLC boosted its holdings in AbbVie by 7.6% during the second quarter. Joule Financial LLC now owns 1,831 shares of the company’s stock worth $314,000 after buying an additional 129 shares in the last quarter. 1620 Investment Advisors Inc. boosted its holdings in AbbVie by 10.7% during the second quarter. 1620 Investment Advisors Inc. now owns 8,355 shares of the company’s stock worth $1,433,000 after buying an additional 809 shares in the last quarter. PSI Advisors LLC grew its position in AbbVie by 2.0% during the second quarter. PSI Advisors LLC now owns 3,903 shares of the company’s stock valued at $669,000 after buying an additional 77 shares during the period. Finally, GYL Financial Synergies LLC raised its position in shares of AbbVie by 1.0% in the second quarter. GYL Financial Synergies LLC now owns 37,101 shares of the company’s stock worth $6,364,000 after acquiring an additional 359 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ABBV. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research note on Thursday, December 5th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. dropped their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.70.

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.