AbbVie Inc. (NYSE:ABBV) Shares Sold by Adirondack Trust Co.

Adirondack Trust Co. trimmed its position in AbbVie Inc. (NYSE:ABBV) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,177 shares of the company’s stock after selling 63 shares during the quarter. AbbVie makes up approximately 1.1% of Adirondack Trust Co.’s portfolio, making the stock its 23rd largest position. Adirondack Trust Co.’s holdings in AbbVie were worth $2,875,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Groupama Asset Managment grew its position in AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in AbbVie during the third quarter worth $28,000. Retirement Wealth Solutions LLC bought a new position in shares of AbbVie in the 4th quarter valued at approximately $35,000. Marquette Asset Management LLC bought a new position in shares of AbbVie in the third quarter valued at approximately $39,000. Finally, Mizuho Securities Co. Ltd. raised its holdings in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AbbVie

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

AbbVie Price Performance

Shares of ABBV stock opened at $170.42 on Friday. The firm has a market capitalization of $301.15 billion, a price-to-earnings ratio of 59.17, a price-to-earnings-growth ratio of 1.71 and a beta of 0.58. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The firm has a fifty day moving average of $175.72 and a 200-day moving average of $184.73.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.95 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Wells Fargo & Company lifted their price objective on AbbVie to $195.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a report on Friday, November 22nd. 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. Finally, UBS Group raised their price objective on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.50.

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.