Cape ANN Savings Bank Sells 215 Shares of AbbVie Inc. (NYSE:ABBV)

Cape ANN Savings Bank trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 6.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,361 shares of the company’s stock after selling 215 shares during the period. Cape ANN Savings Bank’s holdings in AbbVie were worth $597,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. RPg Family Wealth Advisory LLC acquired a new position in AbbVie during the third quarter worth $28,000. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie in the 4th quarter worth about $29,000. Retirement Wealth Solutions LLC acquired a new stake in shares of AbbVie during the 4th quarter worth about $35,000. Mizuho Securities Co. Ltd. lifted its holdings in AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in AbbVie in the third quarter valued at about $39,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Up 0.6 %

NYSE:ABBV opened at $202.03 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The firm has a market capitalization of $356.65 billion, a price-to-earnings ratio of 84.18, a PEG ratio of 1.61 and a beta of 0.58. The business’s 50-day moving average price is $181.25 and its two-hundred day moving average price is $186.41.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period in the prior year, the firm earned $2.79 earnings per share. On average, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.25%. AbbVie’s dividend payout ratio is 273.33%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ABBV shares. Wolfe Research started coverage on shares of AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective for the company. JPMorgan Chase & Co. dropped their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Piper Sandler boosted their price objective on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. BMO Capital Markets raised their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Bank of America reaffirmed a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $208.35.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by company insiders.

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.