AbbVie Inc. $ABBV Shares Acquired by First Bank & Trust

by · The Markets Daily

First Bank & Trust lifted its holdings in AbbVie Inc. (NYSE:ABBV – Free Report) by 4.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,036 shares of the company’s stock after purchasing an additional 890 shares during the quarter. First Bank & Trust’s holdings in AbbVie were worth $3,533,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. TD Capital Management LLC increased its holdings in shares of AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Abound Financial LLC acquired a new position in AbbVie during the 1st quarter valued at approximately $30,000. Cypress Capital Management LLC WY acquired a new position in AbbVie during the 1st quarter valued at approximately $35,000. Pinney & Scofield Inc. purchased a new position in shares of AbbVie in the fourth quarter worth $36,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of AbbVie during the first quarter worth $42,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ABBV has been the topic of several research reports. Raymond James Financial reissued an “outperform” rating on shares of AbbVie in a research report on Monday, August 25th. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Citigroup upped their target price on AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. Finally, Guggenheim increased their price target on shares of AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.76.

Read Our Latest Stock Analysis on ABBV

Insiders Place Their Bets

In related news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the transaction, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the transaction, the executive vice president directly owned 177,292 shares of the company’s stock, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

AbbVie Stock Down 0.2%

Shares of ABBV opened at $217.92 on Tuesday. The company has a market capitalization of $384.97 billion, a price-to-earnings ratio of 103.77, a PEG ratio of 1.40 and a beta of 0.53. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $221.76. The stock’s 50-day moving average price is $200.86 and its 200-day moving average price is $194.51. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV – Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. During the same period in the previous year, the firm posted $2.65 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.0%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

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.

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