AbbVie Inc. (NYSE:ABBV) Shares Purchased by Greenfield Savings Bank

Greenfield Savings Bank grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% during the fourth quarter, Holdings Channel reports. The firm owned 17,975 shares of the company’s stock after purchasing an additional 119 shares during the period. AbbVie makes up approximately 1.5% of Greenfield Savings Bank’s investment portfolio, making the stock its 16th largest position. Greenfield Savings Bank’s holdings in AbbVie were worth $3,194,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Quest Partners LLC boosted its stake in shares of AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares during the last quarter. Inspire Advisors LLC boosted its holdings in AbbVie by 4.1% in the 2nd quarter. Inspire Advisors LLC now owns 1,537 shares of the company’s stock worth $264,000 after acquiring an additional 61 shares during the period. Lyell Wealth Management LP boosted its position in AbbVie by 4.0% in the 2nd quarter. Lyell Wealth Management LP now owns 1,671 shares of the company’s stock valued at $287,000 after buying an additional 64 shares during the last quarter. Quilter Plc boosted its stake in shares of AbbVie by 14.7% during the 2nd quarter. Quilter Plc now owns 7,803 shares of the company’s stock valued at $1,338,000 after buying an additional 1,000 shares during the last quarter. Finally, Fairfield Financial Advisors LTD bought a new position in shares of AbbVie during the second quarter worth about $149,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research note on Thursday, December 5th. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Barclays raised their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Wells Fargo & Company raised their price target on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Piper Sandler raised their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $205.50.

AbbVie Stock Up 1.0 %

ABBV opened at $176.94 on Tuesday. The stock has a market cap of $312.68 billion, a PE ratio of 61.44, a P/E/G ratio of 1.92 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The business’s fifty day simple moving average is $178.00 and its 200 day simple moving average is $184.61.

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

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s payout ratio is presently 227.78%.

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.