Ames National Corp Invests $260,000 in AbbVie Inc. (NYSE:ABBV)

Ames National Corp acquired a new stake in AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,465 shares of the company’s stock, valued at approximately $260,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABBV. Vanguard Group Inc. lifted its holdings in shares of AbbVie by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock worth $30,754,908,000 after buying an additional 1,424,237 shares during the period. Geode Capital Management LLC increased its position in AbbVie by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock valued at $6,586,948,000 after purchasing an additional 983,888 shares during the period. Capital Research Global Investors raised its holdings in shares of AbbVie by 2.3% in the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock valued at $6,038,898,000 after purchasing an additional 778,126 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after buying an additional 3,599,336 shares in the last quarter. Finally, Norges Bank purchased a new stake in AbbVie during the fourth quarter worth $4,459,385,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. The trade was a 20.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,471 shares of company stock worth $23,426,451 over the last quarter. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Raymond James reaffirmed an “outperform” rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. BMO Capital Markets boosted their target price on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Finally, Citigroup reiterated a “neutral” rating and issued a $205.00 price target (down from $210.00) on shares of AbbVie in a research note on Wednesday, May 14th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $210.95.

AbbVie Trading Down 0.5%

Shares of NYSE:ABBV opened at $184.75 on Wednesday. The business’s 50 day moving average price is $190.24 and its 200-day moving average price is $186.71. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The firm has a market capitalization of $326.34 billion, a price-to-earnings ratio of 76.98, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.31 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

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.