AbbVie Inc. (NYSE:ABBV) Stake Boosted by Davidson Trust Co.

Davidson Trust Co. increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,246 shares of the company’s stock after buying an additional 107 shares during the period. AbbVie comprises approximately 4.3% of Davidson Trust Co.’s holdings, making the stock its 3rd largest holding. Davidson Trust Co.’s holdings in AbbVie were worth $6,702,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Aspen Wealth Strategies LLC boosted its position in AbbVie by 0.5% during the fourth quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after purchasing an additional 61 shares in the last quarter. Avion Wealth boosted its position in AbbVie by 11.9% during the fourth quarter. Avion Wealth now owns 612 shares of the company’s stock valued at $95,000 after purchasing an additional 65 shares in the last quarter. Goepper Burkhardt LLC boosted its position in AbbVie by 1.9% during the fourth quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock valued at $567,000 after purchasing an additional 67 shares in the last quarter. First Bank & Trust boosted its position in AbbVie by 0.4% during the fourth quarter. First Bank & Trust now owns 18,125 shares of the company’s stock valued at $2,809,000 after purchasing an additional 68 shares in the last quarter. Finally, Hudock Inc. boosted its position in AbbVie by 2.5% during the fourth quarter. Hudock Inc. now owns 2,801 shares of the company’s stock valued at $434,000 after purchasing an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE:ABBV traded up $0.98 during trading on Friday, hitting $165.64. The stock had a trading volume of 1,404,070 shares, compared to its average volume of 5,580,114. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The stock has a market capitalization of $293.29 billion, a price-to-earnings ratio of 60.43, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The stock has a 50-day simple moving average of $175.59 and a two-hundred day simple moving average of $159.97.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.03. The firm had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the business posted $3.60 earnings per share. On average, equities research analysts expect that AbbVie Inc. will post 11.18 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is currently 227.11%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ABBV shares. Barclays raised their price objective on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. 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 report on Monday, February 5th. Raymond James raised their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Truist Financial raised their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Finally, Guggenheim raised their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $177.43.

Insider Activity at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is owned by corporate insiders.

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.