AbbVie Inc. (NYSE:ABBV) Stock Position Lowered by Davidson Trust Co.

Davidson Trust Co. reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.1% during the 4th quarter, HoldingsChannel reports. The firm owned 41,343 shares of the company’s stock after selling 60 shares during the period. AbbVie comprises about 3.8% of Davidson Trust Co.’s investment portfolio, making the stock its 3rd largest holding. Davidson Trust Co.’s holdings in AbbVie were worth $7,347,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GGM Financials LLC boosted its stake in shares of AbbVie by 0.7% in the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after buying an additional 50 shares in the last quarter. Dillon & Associates Inc. lifted its holdings in AbbVie by 0.8% in the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after acquiring an additional 52 shares during the period. WFA Asset Management Corp boosted its position in shares of AbbVie by 0.8% during the 3rd quarter. WFA Asset Management Corp now owns 7,003 shares of the company’s stock worth $1,383,000 after purchasing an additional 55 shares in the last quarter. Carr Financial Group Corp grew its stake in shares of AbbVie by 1.1% during the 3rd quarter. Carr Financial Group Corp now owns 5,274 shares of the company’s stock worth $1,041,000 after purchasing an additional 56 shares during the period. Finally, Wealthstream Advisors Inc. increased its holdings in shares of AbbVie by 3.0% in the 3rd quarter. Wealthstream Advisors Inc. now owns 1,954 shares of the company’s stock valued at $386,000 after purchasing an additional 56 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Trading Down 0.2 %

Shares of ABBV opened at $193.00 on Tuesday. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a market capitalization of $341.05 billion, a PE ratio of 80.42, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. The stock has a fifty day moving average of $178.93 and a two-hundred day moving average of $186.04. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period in the previous year, the company earned $2.79 EPS. As a group, analysts forecast that AbbVie Inc. will post 12.32 EPS for the current year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.40%. AbbVie’s payout ratio is 273.33%.

Insider Activity at AbbVie

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. BMO Capital Markets boosted their price objective on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a report on Friday, November 22nd. Bank of America reaffirmed a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a report on Tuesday, December 10th. Wells Fargo & Company upped their target price on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Wolfe Research initiated coverage on AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 price target for the company. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie 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.