Umpqua Bank Acquires 254 Shares of AbbVie Inc. (NYSE:ABBV)

Umpqua Bank raised its holdings in AbbVie Inc. (NYSE:ABBV) by 10.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,606 shares of the company’s stock after acquiring an additional 254 shares during the period. Umpqua Bank’s holdings in AbbVie were worth $457,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Blue Bell Private Wealth Management LLC grew its holdings in shares of AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares during the last quarter. Physicians Financial Services Inc. lifted its stake in AbbVie by 0.5% in the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after buying an additional 55 shares during the period. Armstrong Advisory Group Inc. raised its position in shares of AbbVie by 0.6% during the fourth quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock worth $1,749,000 after purchasing an additional 58 shares during the period. Canopy Partners LLC raised its position in shares of AbbVie by 1.4% during the third quarter. Canopy Partners LLC now owns 4,356 shares of the company’s stock worth $860,000 after purchasing an additional 59 shares during the period. Finally, Doliver Advisors LP grew its holdings in AbbVie by 1.1% during the fourth quarter. Doliver Advisors LP now owns 5,276 shares of the company’s stock worth $938,000 after buying an additional 59 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.9 %

AbbVie stock opened at $209.98 on Friday. The company has a market capitalization of $370.68 billion, a price-to-earnings ratio of 87.49, a price-to-earnings-growth 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. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The business’s fifty day simple moving average is $194.49 and its two-hundred day simple moving average is $188.73.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the company earned $2.79 EPS. As a group, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is currently 273.33%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Citigroup increased their price target on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. BMO Capital Markets raised their price target on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Wells Fargo & Company raised their price target on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a research report on Friday, November 22nd. Finally, 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. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $211.45.

Insider Activity

In related news, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,639 shares of company stock valued at $11,067,025 over the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

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.