First Financial Bankshares Inc Sells 1,826 Shares of AbbVie Inc. (NYSE:ABBV)

First Financial Bankshares Inc cut its holdings in AbbVie Inc. (NYSE:ABBV) by 26.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,040 shares of the company’s stock after selling 1,826 shares during the quarter. First Financial Bankshares Inc’s holdings in AbbVie were worth $896,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ABBV. Generali Investments Management Co LLC bought a new position in AbbVie during the 4th quarter worth about $3,553,000. GM Advisory Group LLC grew its stake in shares of AbbVie by 41.7% during the 4th quarter. GM Advisory Group LLC now owns 3,590 shares of the company’s stock worth $638,000 after acquiring an additional 1,056 shares in the last quarter. Vinva Investment Management Ltd raised its holdings in shares of AbbVie by 1.7% in the fourth quarter. Vinva Investment Management Ltd now owns 92,133 shares of the company’s stock valued at $16,234,000 after purchasing an additional 1,498 shares during the last quarter. Bestgate Wealth Advisors LLC bought a new stake in shares of AbbVie in the fourth quarter worth $322,000. Finally, Stokes Family Office LLC boosted its holdings in AbbVie by 12.7% during the fourth quarter. Stokes Family Office LLC now owns 27,092 shares of the company’s stock worth $4,814,000 after purchasing an additional 3,057 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction dated Wednesday, February 26th. The shares were 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 directly owns 11,496 shares in the company, valued at $2,338,401.36. This represents a 62.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,639 shares of company stock worth $11,067,025. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $213.80 on Wednesday. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The firm has a market cap of $377.43 billion, a price-to-earnings ratio of 89.08, a P/E/G ratio of 1.62 and a beta of 0.61. The stock’s fifty day moving average price is $192.47 and its two-hundred day moving average price is $188.31. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS 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 quarter last year, the company earned $2.79 earnings per share. On average, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.07%. AbbVie’s payout ratio is 273.33%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ABBV. UBS Group lifted their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Wells Fargo & Company boosted their price target on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a research note on Friday, November 22nd. Truist Financial raised their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

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.