AbbVie Inc. (NYSE:ABBV) Stake Lessened by First American Trust FSB

First American Trust FSB decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,492 shares of the company’s stock after selling 2,205 shares during the period. First American Trust FSB’s holdings in AbbVie were worth $9,683,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zions Bancorporation N.A. boosted its position in shares of AbbVie by 69.3% during the 4th quarter. Zions Bancorporation N.A. now owns 50,232 shares of the company’s stock valued at $8,926,000 after purchasing an additional 20,560 shares in the last quarter. Ashton Thomas Securities LLC grew its position in AbbVie by 7.2% in the fourth quarter. Ashton Thomas Securities LLC now owns 2,082 shares of the company’s stock worth $367,000 after buying an additional 140 shares during the last quarter. Modern Wealth Management LLC increased its holdings in shares of AbbVie by 63.1% in the fourth quarter. Modern Wealth Management LLC now owns 49,353 shares of the company’s stock valued at $9,394,000 after buying an additional 19,086 shares in the last quarter. CoreFirst Bank & Trust acquired a new stake in shares of AbbVie during the 4th quarter valued at $717,000. Finally, Haverford Trust Co grew its holdings in shares of AbbVie by 0.4% in the 4th quarter. Haverford Trust Co now owns 95,655 shares of the company’s stock worth $16,998,000 after acquiring an additional 346 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Bank of America increased their price target on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. UBS Group upped their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Finally, Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.45.

AbbVie Price Performance

NYSE ABBV opened at $209.25 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock has a market capitalization of $369.40 billion, a PE ratio of 87.19, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. The company has a 50 day moving average price of $195.14 and a two-hundred day moving average price of $188.73.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the business posted $2.79 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Insider Buying and Selling

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at $8,985,223.60. The trade was a 40.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,639 shares of company stock worth $11,067,025. 0.25% of the stock is currently owned by 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.