New Covenant Trust Company N.A. Sells 70 Shares of AbbVie Inc. (NYSE:ABBV)

New Covenant Trust Company N.A. decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,732 shares of the company’s stock after selling 70 shares during the period. New Covenant Trust Company N.A.’s holdings in AbbVie were worth $305,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ABBV. Charles Schwab Investment Management Inc. increased its stake in shares of 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 purchasing an additional 3,599,336 shares in the last quarter. State Street Corp grew its stake in AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after acquiring an additional 1,267,685 shares in the last quarter. Proficio Capital Partners LLC grew its stake in AbbVie by 26,693.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,176,754 shares of the company’s stock valued at $209,109,000 after acquiring an additional 1,172,362 shares in the last quarter. Alecta Tjanstepension Omsesidigt purchased a new position in AbbVie during the fourth quarter valued at approximately $186,431,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in AbbVie by 6.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after acquiring an additional 582,953 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,439 shares of company stock worth $11,377,057. 0.25% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Guggenheim boosted their price objective on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Truist Financial boosted their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Raymond James reissued an “outperform” rating and issued a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Citigroup boosted their price target on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.95.

AbbVie Stock Performance

ABBV stock opened at $208.12 on Wednesday. The firm has a market cap of $367.40 billion, a price-to-earnings ratio of 86.72, a PEG ratio of 1.62 and a beta of 0.58. The firm has a 50-day simple moving average of $185.64 and a two-hundred day simple moving average of $187.14. AbbVie Inc. has a one year low of $153.58 and a one year high of $215.66. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter last year, the company posted $2.79 EPS. On average, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared 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 of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.15%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

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.