Town & Country Bank & Trust CO dba First Bankers Trust CO decreased its holdings in AbbVie Inc. (NYSE:ABBV – Free Report) by 0.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 24,127 shares of the company’s stock after selling 200 shares during the quarter. AbbVie accounts for about 1.6% of Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings, making the stock its 17th biggest position. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in AbbVie were worth $3,251,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Retirement Income Solutions Inc bought a new position in shares of AbbVie during the first quarter worth approximately $204,000. Ergoteles LLC increased its stake in shares of AbbVie by 17.8% during the first quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock worth $909,000 after purchasing an additional 847 shares during the period. First Western Trust Bank bought a new position in shares of AbbVie during the first quarter worth approximately $1,150,000. Wsfs Capital Management LLC bought a new position in shares of AbbVie during the first quarter worth approximately $562,000. Finally, Bridgewater Associates LP increased its stake in shares of AbbVie by 80.4% during the first quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock worth $12,242,000 after purchasing an additional 33,661 shares during the period. Institutional investors own 67.86% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on ABBV. Piper Jaffray Companies increased their target price on AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. Piper Sandler increased their price target on AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. TheStreet raised AbbVie from a “c+” rating to a “b” rating in a research report on Monday, August 28th. HSBC assumed coverage on AbbVie in a research report on Friday, July 14th. They set a “buy” rating and a $167.00 price target on the stock. Finally, Credit Suisse Group reduced their price target on AbbVie from $170.00 to $160.00 in a research report on Wednesday, July 12th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $165.79.
AbbVie Stock Up 1.2 %
Shares of NYSE:ABBV opened at $153.93 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.89 and a debt-to-equity ratio of 4.33. The business has a fifty day simple moving average of $146.42 and a 200 day simple moving average of $147.44. The firm has a market cap of $271.69 billion, a P/E ratio of 31.67, a P/E/G ratio of 2.79 and a beta of 0.58. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $168.11.
AbbVie (NYSE:ABBV – Get Free Report) last issued its earnings results on Thursday, July 27th. The company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.79 by $0.12. The company had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $13.52 billion. AbbVie had a return on equity of 151.29% and a net margin of 15.50%. Analysts predict that AbbVie Inc. will post 11.03 earnings per share for the current year.
AbbVie Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be paid a $1.48 dividend. The ex-dividend date is Thursday, October 12th. This represents a $5.92 annualized dividend and a dividend yield of 3.85%. AbbVie’s dividend payout ratio is presently 121.81%.
In other AbbVie news, CEO Richard A. Gonzalez sold 18,500 shares of AbbVie stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $149.15, for a total transaction of $2,759,275.00. Following the completion of the transaction, the chief executive officer now owns 625,294 shares in the company, valued at approximately $93,262,600.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by company insiders.
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.
- Five stocks we like better than AbbVie
- Investing In Automotive Stocks
- 2 Recession-Proof Intelligence Stocks to Defend Your Portfolio
- 3 Best Fintech Stocks for a Portfolio Boost
- 5 Reasons Mullen Automotive is About to Turn a Corner
- How to Find Cloud Software Company Stocks to Trade and Invest
- Qualcomm and Apple Forge Ahead with New Modem Partnership
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.