Norway Savings Bank Sells 832 Shares of AbbVie Inc. (NYSE:ABBV)

Norway Savings Bank lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 17.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,035 shares of the company’s stock after selling 832 shares during the period. Norway Savings Bank’s holdings in AbbVie were worth $544,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Goepper Burkhardt LLC raised its holdings in AbbVie by 1.9% during the fourth quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock valued at $567,000 after acquiring an additional 67 shares during the period. Naviter Wealth LLC raised its holdings in AbbVie by 0.9% during the first quarter. Naviter Wealth LLC now owns 7,378 shares of the company’s stock valued at $1,176,000 after acquiring an additional 68 shares during the period. Delta Financial Group Inc. raised its holdings in AbbVie by 1.2% during the first quarter. Delta Financial Group Inc. now owns 5,757 shares of the company’s stock valued at $917,000 after acquiring an additional 68 shares during the period. Sand Hill Global Advisors LLC raised its holdings in AbbVie by 0.4% during the first quarter. Sand Hill Global Advisors LLC now owns 18,755 shares of the company’s stock valued at $2,989,000 after acquiring an additional 68 shares during the period. Finally, Kistler Tiffany Companies LLC raised its holdings in AbbVie by 0.6% during the first quarter. Kistler Tiffany Companies LLC now owns 12,314 shares of the company’s stock valued at $1,963,000 after acquiring an additional 70 shares during the period. Institutional investors own 67.86% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ABBV. Credit Suisse Group reduced their target price on AbbVie from $170.00 to $160.00 in a report on Wednesday, July 12th. Piper Jaffray Companies lifted their target price on AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. TheStreet raised AbbVie from a “c+” rating to a “b” rating in a report on Monday, August 28th. William Blair began coverage on AbbVie in a report on Tuesday, July 25th. They issued a “market perform” rating on the stock. Finally, Piper Sandler lifted their target price on AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.79.

AbbVie Trading Up 1.2 %

ABBV opened at $153.93 on Tuesday. The stock has a market cap of $271.69 billion, a price-to-earnings ratio of 31.67, a P/E/G ratio of 2.79 and a beta of 0.58. The stock’s 50 day moving average price is $146.42 and its 200-day moving average price is $147.44. AbbVie Inc. has a one year low of $130.96 and a one year high of $168.11. The company has a debt-to-equity ratio of 4.33, a quick ratio of 0.77 and a current ratio of 0.89.

AbbVie (NYSE:ABBV) last released its earnings results on Thursday, July 27th. The company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.12. The firm had revenue of $13.87 billion for the quarter, compared to analysts’ expectations of $13.52 billion. AbbVie had a return on equity of 151.29% and a net margin of 15.50%. On average, equities analysts forecast that AbbVie Inc. will post 11.03 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $5.92 annualized dividend and a yield of 3.85%. AbbVie’s dividend payout ratio (DPR) is currently 121.81%.

Insider Buying and Selling

In related news, CEO Richard A. Gonzalez sold 18,500 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $149.15, for a total value of $2,759,275.00. Following the transaction, the chief executive officer now owns 625,294 shares of the company’s stock, valued at $93,262,600.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by insiders.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.