Pioneer Trust Bank N A OR Purchases 655 Shares of AbbVie Inc. (NYSE:ABBV)

Pioneer Trust Bank N A OR lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 16.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,730 shares of the company’s stock after purchasing an additional 655 shares during the period. Pioneer Trust Bank N A OR’s holdings in AbbVie were worth $841,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ABBV. Groupama Asset Managment increased its position in AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares during the period. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie in the fourth quarter valued at about $29,000. Promus Capital LLC acquired a new position in shares of AbbVie in the fourth quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie in the 4th quarter worth about $31,000. Finally, Prudent Man Investment Management Inc. bought a new stake in AbbVie in the 4th quarter valued at about $32,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. This represents a 62.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This represents a 52.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock worth $23,426,451 over the last three months. Company insiders own 0.08% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $186.58 on Friday. The firm has a market capitalization of $330.06 billion, a price-to-earnings ratio of 77.74, a PEG ratio of 1.62 and a beta of 0.61. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The business’s 50-day moving average price is $200.61 and its 200-day moving average price is $189.24. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66.

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

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.52%. AbbVie’s dividend payout ratio is 273.33%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ABBV. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. BMO Capital Markets raised their price objective on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Raymond James reiterated an “outperform” rating and set a $220.00 target price (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Piper Sandler raised their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $211.45.

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.