AbbVie Inc. (NYSE:ABBV) Shares Sold by First Citizens Financial Corp

First Citizens Financial Corp trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,702 shares of the company’s stock after selling 75 shares during the quarter. First Citizens Financial Corp’s holdings in AbbVie were worth $1,013,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Founders Financial Securities LLC grew its position in AbbVie by 35.0% in the 2nd quarter. Founders Financial Securities LLC now owns 6,163 shares of the company’s stock valued at $1,057,000 after buying an additional 1,599 shares during the last quarter. Pursue Wealth Partners LLC purchased a new stake in shares of AbbVie in the second quarter valued at about $224,000. FineMark National Bank & Trust raised its holdings in AbbVie by 1.7% during the second quarter. FineMark National Bank & Trust now owns 95,499 shares of the company’s stock worth $16,380,000 after purchasing an additional 1,613 shares in the last quarter. TD Asset Management Inc lifted its position in AbbVie by 2.2% in the second quarter. TD Asset Management Inc now owns 3,550,520 shares of the company’s stock valued at $608,985,000 after purchasing an additional 76,500 shares during the period. Finally, Kapstone Financial Advisors LLC boosted its holdings in AbbVie by 1.5% in the 2nd quarter. Kapstone Financial Advisors LLC now owns 14,045 shares of the company’s stock valued at $2,409,000 after purchasing an additional 208 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the subject of several research analyst reports. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Piper Sandler raised their price objective on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a report on Thursday, December 5th. Barclays boosted their price objective on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. lowered their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $205.70.

AbbVie Stock Up 0.8 %

NYSE ABBV traded up $1.37 on Friday, reaching $180.81. The company had a trading volume of 1,024,995 shares, compared to its average volume of 2,497,232. The firm has a market capitalization of $319.52 billion, a PE ratio of 62.78, a P/E/G ratio of 1.92 and a beta of 0.58. The firm has a 50-day moving average of $180.53 and a 200-day moving average of $184.05. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.95 EPS. On average, equities research analysts anticipate that AbbVie Inc. will post 10.96 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.63%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is presently 227.78%.

AbbVie 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.