First Commonwealth Financial Corp PA Has $1.28 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

First Commonwealth Financial Corp PA grew its position in AbbVie Inc. (NYSE:ABBV) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,207 shares of the company’s stock after purchasing an additional 167 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in AbbVie were worth $1,281,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ABBV. Howard Capital Management Group LLC boosted its stake in AbbVie by 20.3% during the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock valued at $397,000 after purchasing an additional 339 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of AbbVie by 12.3% during the third quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock worth $491,204,000 after buying an additional 273,078 shares during the last quarter. Westside Investment Management Inc. boosted its position in shares of AbbVie by 1.0% in the third quarter. Westside Investment Management Inc. now owns 17,296 shares of the company’s stock valued at $3,403,000 after acquiring an additional 171 shares during the period. Morse Asset Management Inc grew its stake in shares of AbbVie by 2.4% in the third quarter. Morse Asset Management Inc now owns 7,563 shares of the company’s stock worth $1,494,000 after acquiring an additional 175 shares during the last quarter. Finally, Aldebaran Financial Inc. bought a new position in AbbVie during the third quarter worth $466,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Down 3.0 %

Shares of NYSE ABBV opened at $171.57 on Thursday. 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 company has a market cap of $303.50 billion, a price-to-earnings ratio of 71.49, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. The firm’s 50-day simple moving average is $199.21 and its 200 day simple moving average is $188.16.

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

AbbVie Dividend Announcement

The company also recently announced 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 3.82%. AbbVie’s payout ratio is currently 273.33%.

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. This represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,471 shares of company stock worth $23,426,451 over the last 90 days. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Truist Financial boosted their price objective on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. BMO Capital Markets upped their price target on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Wells Fargo & Company lifted their price objective on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. The Goldman Sachs Group restated a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Finally, Guggenheim lifted their price target on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $210.71.

AbbVie Company 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.