First National Bank & Trust Co. of Newtown Sells 943 Shares of AbbVie Inc. (NYSE:ABBV)

First National Bank & Trust Co. of Newtown reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 6.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,772 shares of the company’s stock after selling 943 shares during the period. First National Bank & Trust Co. of Newtown’s holdings in AbbVie were worth $2,362,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. American National Bank lifted its stake in AbbVie by 4.8% in the fourth quarter. American National Bank now owns 59,392 shares of the company’s stock valued at $9,204,000 after acquiring an additional 2,695 shares during the last quarter. AXS Investments LLC grew its holdings in AbbVie by 3.3% during the fourth quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock worth $1,477,000 after purchasing an additional 307 shares during the period. TCI Wealth Advisors Inc. increased its position in AbbVie by 1.0% during the fourth quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock worth $2,641,000 after buying an additional 165 shares during the last quarter. Mizuho Markets Americas LLC raised its stake in AbbVie by 33.4% in the fourth quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock valued at $4,791,000 after buying an additional 7,737 shares during the period. Finally, Opinicus Capital Inc. bought a new stake in AbbVie in the fourth quarter valued at approximately $1,296,000. 70.23% of the stock is owned by institutional investors.

Insider Activity

In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the transaction, the chairman now owns 513,099 shares of the company’s stock, valued at $89,792,325. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the sale, the chairman now owns 513,099 shares in the company, valued at $89,792,325. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV traded down $0.16 during mid-day trading on Thursday, reaching $196.37. The company had a trading volume of 3,439,441 shares, compared to its average volume of 5,497,046. The firm has a market cap of $346.76 billion, a price-to-earnings ratio of 58.27, a PEG ratio of 2.49 and a beta of 0.64. The business’s 50-day simple moving average is $177.76 and its 200 day simple moving average is $172.82. AbbVie Inc. has a one year low of $135.85 and a one year high of $197.54. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.57 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 186.82%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.91 EPS. On average, research analysts predict that AbbVie Inc. will post 10.87 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Monday, July 15th. AbbVie’s dividend payout ratio is presently 183.98%.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their target price on AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Morgan Stanley upped their price objective on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Truist Financial reissued a “buy” rating and issued a $210.00 price objective (up from $195.00) on shares of AbbVie in a research report on Friday, July 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $190.29.

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.