First National Bank & Trust Co. of Newtown Has $2.30 Million Position in AbbVie Inc. (NYSE:ABBV)

First National Bank & Trust Co. of Newtown lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,855 shares of the company’s stock after selling 250 shares during the quarter. AbbVie accounts for about 0.5% of First National Bank & Trust Co. of Newtown’s portfolio, making the stock its 28th biggest position. First National Bank & Trust Co. of Newtown’s holdings in AbbVie were worth $2,302,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Hibernia Wealth Partners LLC acquired a new stake in AbbVie in the 3rd quarter valued at approximately $36,000. PCA Investment Advisory Services Inc. acquired a new stake in AbbVie in the 2nd quarter valued at approximately $38,000. True Wealth Design LLC acquired a new stake in AbbVie in the 4th quarter valued at approximately $39,000. Blue Bell Private Wealth Management LLC raised its position in AbbVie by 39.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after buying an additional 81 shares during the last quarter. Finally, Horrell Capital Management Inc. acquired a new stake in AbbVie in the 3rd quarter valued at approximately $45,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insiders Place Their Bets

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Scott T. Reents sold 14,140 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $177.44, for a total value of $2,509,001.60. Following the completion of the transaction, the chief financial officer now directly owns 27,065 shares in the company, valued at approximately $4,802,413.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Raymond James raised their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. BMO Capital Markets raised their price target on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Truist Financial raised their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Finally, Guggenheim raised their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $177.43.

AbbVie Stock Performance

Shares of NYSE ABBV traded up $1.76 during midday trading on Friday, hitting $166.42. 1,712,319 shares of the company’s stock were exchanged, compared to its average volume of 5,583,537. The company’s 50 day moving average price is $175.59 and its 200 day moving average price is $159.97. The firm has a market capitalization of $294.67 billion, a PE ratio of 60.43, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.03. The firm had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $3.60 EPS. As a group, analysts predict that AbbVie Inc. will post 11.18 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio is currently 227.11%.

AbbVie Profile

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.