AbbVie Inc. (NYSE:ABBV) Shares Sold by CNB Bank

CNB Bank decreased its stake in AbbVie Inc. (NYSE:ABBV) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,603 shares of the company’s stock after selling 414 shares during the quarter. AbbVie makes up 1.3% of CNB Bank’s holdings, making the stock its 17th biggest position. CNB Bank’s holdings in AbbVie were worth $2,773,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Quest Partners LLC grew its stake in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of AbbVie by 2.5% during the 2nd quarter. Brighton Jones LLC now owns 19,721 shares of the company’s stock worth $3,383,000 after purchasing an additional 477 shares during the last quarter. Trust Investment Advisors purchased a new stake in shares of AbbVie in the second quarter valued at approximately $242,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of AbbVie by 2.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 278,306 shares of the company’s stock valued at $47,735,000 after purchasing an additional 5,870 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in AbbVie by 22.6% during the second quarter. Canada Pension Plan Investment Board now owns 2,868,905 shares of the company’s stock worth $492,075,000 after buying an additional 529,707 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Citigroup cut their target price on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Bank of America reiterated a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a report on Tuesday, December 10th. BMO Capital Markets cut their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. lowered their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $205.50.

AbbVie Trading Down 1.3 %

NYSE:ABBV opened at $171.49 on Friday. The firm has a market cap of $303.05 billion, a P/E ratio of 59.55, a PEG ratio of 1.73 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The stock’s 50 day simple moving average is $175.78 and its 200-day simple moving average is $184.47.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period in the previous year, the firm earned $2.95 EPS. The business’s revenue was up 3.8% on a year-over-year basis. Equities analysts anticipate that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.83%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is currently 215.28%.

About AbbVie

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.