Hilltop National Bank Acquires 108 Shares of AbbVie Inc. (NYSE:ABBV)

Hilltop National Bank boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,736 shares of the company’s stock after purchasing an additional 108 shares during the period. Hilltop National Bank’s holdings in AbbVie were worth $842,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. State Street Corp grew its stake in shares of AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after acquiring an additional 1,267,685 shares during the period. Legal & General Group Plc boosted its position in AbbVie by 0.9% during the second quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock worth $2,620,382,000 after purchasing an additional 134,239 shares during the period. FMR LLC increased its stake in shares of AbbVie by 3.9% in the third quarter. FMR LLC now owns 13,630,404 shares of the company’s stock worth $2,691,732,000 after purchasing an additional 511,470 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of AbbVie by 6.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after buying an additional 582,953 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in AbbVie by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock worth $1,842,642,000 after buying an additional 373,802 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Citigroup dropped their price objective on AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Barclays lifted their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Morgan Stanley lowered their price target on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.50.

AbbVie Trading Down 1.2 %

NYSE:ABBV traded down $2.10 during trading hours on Friday, reaching $176.40. The company’s stock had a trading volume of 1,518,632 shares, compared to its average volume of 4,433,674. The firm has a 50-day simple moving average of $179.04 and a 200-day simple moving average of $184.34. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The firm has a market capitalization of $311.72 billion, a price-to-earnings ratio of 61.25, a PEG ratio of 1.92 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the prior year, the firm posted $2.95 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts expect that AbbVie Inc. will post 10.96 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.72%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s payout ratio is presently 227.78%.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

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.