AbbVie Inc. (NYSE:ABBV) Shares Sold by Country Club Bank

by · The Cerbat Gem

Country Club Bank trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 0.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,982 shares of the company’s stock after selling 90 shares during the period. Country Club Bank’s holdings in AbbVie were worth $2,254,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ABBV. Steel Grove Capital Advisors LLC boosted its stake in AbbVie by 1.7% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock valued at $553,000 after buying an additional 52 shares in the last quarter. Peninsula Wealth LLC boosted its stake in AbbVie by 4.1% during the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock valued at $242,000 after buying an additional 54 shares in the last quarter. Connecticut Wealth Management LLC boosted its stake in AbbVie by 1.6% during the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock valued at $660,000 after buying an additional 57 shares in the last quarter. Castle Wealth Management LLC boosted its position in shares of AbbVie by 3.4% in the 1st quarter. Castle Wealth Management LLC now owns 1,725 shares of the company’s stock valued at $361,000 after purchasing an additional 57 shares during the period. Finally, Northstar Group Inc. boosted its position in shares of AbbVie by 0.7% in the 1st quarter. Northstar Group Inc. now owns 8,512 shares of the company’s stock valued at $1,783,000 after purchasing an additional 58 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $194.96 on Friday. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The firm has a market capitalization of $344.38 billion, a PE ratio of 82.96, a PEG ratio of 1.29 and a beta of 0.48. The business’s 50 day moving average is $187.13 and its 200-day moving average is $188.90. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV – Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter last year, the firm earned $2.31 EPS. AbbVie’s revenue for the quarter was up 8.4% compared to the same quarter last year. Sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s dividend payout ratio is 279.15%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Bank of America increased their price target on AbbVie to $204.00 and gave the company a “hold” rating in a research report on Monday, June 9th. The Goldman Sachs Group reissued a “neutral” rating and issued a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Evercore ISI raised their price target on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Cantor Fitzgerald began coverage on AbbVie in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price target for the company. Finally, Citigroup raised their price target on AbbVie to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, June 11th. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

Read Our Latest Stock Report on ABBV

About AbbVie

(Free Report)

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.

Further Reading

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