First American Trust FSB Invests $316,000 in AbbVie Inc. (NYSE:ABBV)

First American Trust FSB purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,038 shares of the company’s stock, valued at approximately $316,000.

A number of other large investors also recently made changes to their positions in ABBV. Hibernia Wealth Partners LLC acquired a new position in AbbVie in the third quarter worth about $36,000. PCA Investment Advisory Services Inc. bought a new stake in AbbVie during the 2nd quarter worth about $38,000. True Wealth Design LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $39,000. Blue Bell Private Wealth Management LLC boosted its position in shares of AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after purchasing an additional 81 shares in the last quarter. Finally, Horrell Capital Management Inc. bought a new stake in shares of AbbVie in the third quarter worth $45,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Up 1.0 %

ABBV traded up $1.57 during trading on Tuesday, reaching $163.24. The stock had a trading volume of 1,368,822 shares, compared to its average volume of 5,614,362. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The stock’s 50 day moving average is $176.23 and its two-hundred day moving average is $159.81. The company has a market capitalization of $289.04 billion, a price-to-earnings ratio of 59.89, a P/E/G ratio of 2.07 and a beta of 0.58. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating the consensus estimate of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. During the same period last year, the business posted $3.60 EPS. The company’s revenue was down 5.4% compared to the same quarter last year. As a group, analysts expect that AbbVie Inc. will post 11.11 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is currently 227.11%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ABBV shares. BMO Capital Markets raised their price objective on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Barclays boosted their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. HSBC lowered shares of AbbVie from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $167.00 to $156.00 in a research report on Monday, December 18th. Raymond James increased their target price on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, Guggenheim lifted their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

Insiders Place Their Bets

In other news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the sale, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the sale, the chief executive officer now directly owns 519,099 shares in the company, valued at approximately $92,020,679.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 over the last three months. 0.25% of the stock is currently owned by company 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.