Heartland Bank & Trust Co Buys 2,421 Shares of AbbVie Inc. (NYSE:ABBV)

Heartland Bank & Trust Co increased its stake in AbbVie Inc. (NYSE:ABBV) by 38.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,725 shares of the company’s stock after acquiring an additional 2,421 shares during the period. AbbVie comprises 0.8% of Heartland Bank & Trust Co’s investment portfolio, making the stock its 18th biggest position. Heartland Bank & Trust Co’s holdings in AbbVie were worth $1,497,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp grew its position in shares of AbbVie by 8.1% during the 4th quarter. Jones Financial Companies Lllp now owns 31,799 shares of the company’s stock worth $4,928,000 after buying an additional 2,373 shares during the period. Belpointe Asset Management LLC grew its holdings in AbbVie by 1.2% during the 4th quarter. Belpointe Asset Management LLC now owns 34,550 shares of the company’s stock worth $5,354,000 after acquiring an additional 403 shares during the period. Arbor Capital Management Inc. ADV bought a new stake in shares of AbbVie during the 4th quarter valued at $4,449,000. Royal London Asset Management Ltd. lifted its stake in shares of AbbVie by 7.3% in the 4th quarter. Royal London Asset Management Ltd. now owns 1,374,846 shares of the company’s stock valued at $213,060,000 after purchasing an additional 93,443 shares during the period. Finally, Blueshift Asset Management LLC acquired a new position in shares of AbbVie in the 4th quarter valued at $775,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Up 1.4 %

ABBV stock opened at $197.48 on Tuesday. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The stock has a market capitalization of $348.72 billion, a P/E ratio of 58.60, a P/E/G ratio of 2.65 and a beta of 0.64. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The business has a 50-day moving average of $192.02 and a 200-day moving average of $176.34.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.91 earnings per share. On average, sell-side analysts anticipate that AbbVie Inc. will post 10.86 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio is currently 183.98%.

Analyst Ratings Changes

ABBV has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Barclays upped their price target on AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Morgan Stanley lifted their price objective on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research note on Wednesday, July 3rd. Finally, Piper Sandler lifted their price target on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $191.64.

Insider Buying and Selling

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now directly owns 513,099 shares in the company, valued at approximately $89,792,325. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the transaction, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The disclosure for this sale can be found here. 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.