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

First National Trust Co cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 9.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 127,843 shares of the company’s stock after selling 13,852 shares during the period. AbbVie comprises about 1.1% of First National Trust Co’s holdings, making the stock its 19th biggest holding. First National Trust Co’s holdings in AbbVie were worth $26,786,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in ABBV. Tredje AP fonden grew its holdings in shares of AbbVie by 0.6% during the first quarter. Tredje AP fonden now owns 754,138 shares of the company’s stock worth $158,007,000 after buying an additional 4,680 shares in the last quarter. Eastern Bank grew its holdings in shares of AbbVie by 28.3% during the first quarter. Eastern Bank now owns 372,194 shares of the company’s stock worth $77,982,000 after buying an additional 82,030 shares in the last quarter. Vestcor Inc grew its holdings in shares of AbbVie by 12.2% during the first quarter. Vestcor Inc now owns 87,850 shares of the company’s stock worth $18,406,000 after buying an additional 9,539 shares in the last quarter. Capricorn Fund Managers Ltd grew its holdings in shares of AbbVie by 0.6% during the first quarter. Capricorn Fund Managers Ltd now owns 34,218 shares of the company’s stock worth $7,169,000 after buying an additional 208 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd grew its holdings in shares of AbbVie by 456.4% during the first quarter. Harvest Fund Management Co. Ltd now owns 44,926 shares of the company’s stock worth $9,415,000 after buying an additional 36,851 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABBV has been the subject of a number of research reports. Evercore ISI upped their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. The Goldman Sachs Group reissued a “neutral” rating and issued a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. BNP Paribas raised shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. Morgan Stanley upped their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, April 28th. Finally, Bank of America upped their price objective on shares of AbbVie to $204.00 and gave the company a “hold” rating in a report on Monday, June 9th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued 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 $211.29.

AbbVie Trading Up 1.5%

Shares of ABBV stock opened at $191.29 on Wednesday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The stock has a market capitalization of $337.90 billion, a P/E ratio of 81.40, a price-to-earnings-growth ratio of 1.24 and a beta of 0.48. The company has a 50 day moving average price of $187.81 and a 200 day moving average price of $189.95. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s payout ratio is currently 279.15%.

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.