AbbVie Inc. $ABBV Shares Sold by First National Trust Co

First National Trust Co cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 125,589 shares of the company’s stock after selling 2,254 shares during the period. AbbVie comprises about 0.9% of First National Trust Co’s holdings, making the stock its 23rd biggest holding. First National Trust Co’s holdings in AbbVie were worth $23,312,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after acquiring an additional 3,064 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of AbbVie by 4.6% during the first quarter. Golden State Wealth Management LLC now owns 2,124 shares of the company’s stock valued at $445,000 after acquiring an additional 93 shares during the last quarter. Convergence Financial LLC acquired a new position in shares of AbbVie during the first quarter valued at approximately $282,000. Finally, Sovran Advisors LLC raised its holdings in shares of AbbVie by 11.9% during the first quarter. Sovran Advisors LLC now owns 3,519 shares of the company’s stock valued at $737,000 after acquiring an additional 375 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, the executive vice president owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the sale, the executive vice president directly owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ABBV shares. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research note on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating and issued a $250.00 target price (up from $236.00) on shares of AbbVie in a research report on Friday, October 17th. Wells Fargo & Company increased their target price on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Daiwa Capital Markets upgraded shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price for the company in a research report on Thursday, August 7th. Finally, BMO Capital Markets increased their price objective on shares of AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, September 12th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.80.

AbbVie Stock Down 0.0%

Shares of ABBV opened at $227.98 on Tuesday. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $244.81. The company has a market capitalization of $402.73 billion, a PE ratio of 108.56, a price-to-earnings-growth ratio of 1.44 and a beta of 0.51. The stock has a fifty day simple moving average of $221.13 and a two-hundred day simple moving average of $199.58. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same quarter in the previous year, the business posted $2.65 earnings per share. AbbVie’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.9%. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

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.