Dorsey & Whitney Trust CO LLC Acquires 182 Shares of AbbVie Inc. (NYSE:ABBV)

Dorsey & Whitney Trust CO LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,607 shares of the company’s stock after acquiring an additional 182 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in AbbVie were worth $6,327,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ABBV. Raymond James Financial Inc. bought a new position in AbbVie in the 4th quarter valued at $1,190,951,000. Charles Schwab Investment Management Inc. boosted its position in AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock valued at $4,875,401,000 after buying an additional 3,599,336 shares during the last quarter. State Street Corp boosted its position in AbbVie by 1.6% in the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after buying an additional 1,267,685 shares during the last quarter. Proficio Capital Partners LLC boosted its position in AbbVie by 26,693.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,176,754 shares of the company’s stock valued at $209,109,000 after buying an additional 1,172,362 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt acquired a new position in shares of AbbVie in the 4th quarter valued at $186,431,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

ABBV opened at $214.55 on Friday. The business’s 50-day moving average price is $187.63 and its two-hundred day moving average price is $187.59. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $215.66. The company has a market capitalization of $378.75 billion, a price-to-earnings ratio of 89.40, a P/E/G ratio of 1.62 and a beta of 0.58. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate 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 firm posted $2.79 earnings per share. Equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors 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 yield of 3.06%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is currently 273.33%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ABBV shares. Citigroup increased their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. BMO Capital Markets increased their price target on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Truist Financial increased their price target on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $211.45.

Insider Buying and Selling

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 directly owns 44,284 shares in the company, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the sale, the senior vice president now owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,439 shares of company stock worth $11,377,057. 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.