AbbVie Inc. (NYSE:ABBV) finished Wednesday with a subtraction of -$1.16 to close at $147.08, a downside of -0.78 percent. An average of 4,381,200 shares of common stock have been traded in the last five days. There was a fall of -$4.47 in the past week, and it reached a new high 27 times over the past 12 months. The last 20 days have seen an average of 4,972,855 shares traded, while the 50-day average volume stands at 5,558,648.
ABBV stock has increased by 3.85% in the last month. The company shares reached their 1-month lowest point of $140.52 on 07/26/23. With the stock rallying to its 52-week high on 01/06/23, shares of the company touched a low of $130.96 and a high of $168.11 in 52 weeks. It has reached a new high 4 times so far this year and lost -8.99% or -$14.53 in price. In spite of this, the price is down -12.51% from the 52-week high.
Insider Transactions
ABBV stock investors should be aware that AbbVie Inc. (ABBV) stock had its last reported insider trading activity 23 days ago on Aug 01. In this transaction, the insider spent $8,914,800. CHAIRMAN OF THE BOARD AND CEO, GONZALEZ RICHARD A, disposed of 18,500 shares at a price of $149.15 on Jul 31. The insider now owns more than $2,759,275 worth of shares. Prior to that, SVP, US COMMERCIAL OPERATIONS Sorg Elaine K. went on to Sale 6,130 shares at $165.00 each on Apr 25. An amount of $1,011,450 was transacted.
Valuation Metrics
AbbVie Inc. (ABBV) has a trailing price-to-earnings (P/E) ratio of 30.26. The stock’s beta is 0.54. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 4.63, the price-to-book (PB) ratio at 20.20, and the price-to-cash flow ratio at 10.46.
The company has a payout ratio of 118.50%. The company’s most recent quarterly dividend payment was $1.48 a share, without any change from last year. Its latest increase dividend $0.07 reported on Friday October 28 2022.
Financial Health
The quick ratio of AbbVie Inc. for the three months ended June 29 was 0.80, and the current ratio was 0.90, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 4.34 and a total debt to equity ratio of 4.74 for the quarter ending June 29. Its gross profit as reported stood at $40.64 billion compared to revenue of $58.05 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, AbbVie Inc.’s return on assets was 6.30%.
Earnings Surprise
For the three-month period that ended June 29, AbbVie Inc. had $55.81 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $2.02 billion in the quarter, while revenues were grew 54.35%. The analyst consensus anticipated AbbVie Inc.’s latest quarter earnings to come in at $2.81 per share, but it turned out to be $2.91, a 3.60% surprise. For the quarter, EBITDA amounted to $6.77 billion. Shareholders own equity worth $1.77 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at AbbVie Inc. (ABBV) price momentum. RSI 9-day as of the close on 23 August was 39.04%, suggesting the stock is Neutral, with historical volatility in this time frame at 8.37%.
As of today, ABBV’s price is $149.13 -2.95% or -$4.47 from its 5-day moving average. ABBV is currently trading +3.65% higher than its 20-day SMA and -6.86% lower than its 100-day SMA. However, the stock’s current price level is +6.79% above the SMA50 and +1.84% above the SMA200.
The stochastic %K and %D were 26.08% and 36.13%, respectively, and the average true range (ATR) was 2.35. With the 14-day stochastic at 14.88% and the average true range at 2.44, the RSI (14) stands at 49.05%. The stock has reached -1.92 on the 9-day MACD Oscillator while the 14-day reading was at -1.77.
Analyst Ratings
William Blair launched coverage on AbbVie Inc. (NYSE: ABBV) in its analyst report released on July 25, 2023. The firm assigned the stock a Mkt perform rating.
What is ABBV’s price target for the next 12 months?
Analysts predict a range of price targets between $135.00 and $205.00, with a median target of $165.00. Taking a look at these predictions, the average price target given by analysts for AbbVie Inc. (ABBV) stock is $167.60.
