First American Trust FSB Cuts Position in AbbVie Inc. (NYSE:ABBV)

First American Trust FSB reduced its position in AbbVie Inc. (NYSE:ABBV) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,492 shares of the company’s stock after selling 2,205 shares during the period. First American Trust FSB’s holdings in AbbVie were worth $9,683,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in AbbVie during the fourth quarter worth approximately $1,190,951,000. Charles Schwab Investment Management Inc. boosted its position in AbbVie by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares during the period. Boston Partners boosted its position in AbbVie by 35.9% during the 4th quarter. Boston Partners now owns 5,687,472 shares of the company’s stock worth $1,008,867,000 after purchasing an additional 1,503,875 shares during the period. Vanguard Group Inc. increased its holdings in AbbVie by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock valued at $30,754,908,000 after purchasing an additional 1,424,237 shares in the last quarter. Finally, State Street Corp raised its position in AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after purchasing an additional 1,267,685 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of recent research reports. Truist Financial increased their target price on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Bank of America increased their price objective on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Finally, Citigroup lifted their price target on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $211.45.

AbbVie Stock Performance

Shares of ABBV opened at $209.25 on Tuesday. 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 Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. The business’s fifty day moving average price is $195.14 and its 200 day moving average price is $188.73. The stock has a market capitalization of $369.40 billion, a PE ratio of 87.19, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV) last posted 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 business earned $2.79 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business 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 $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the business’s 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 completion of the transaction, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at $2,338,401.36. The trade was a 62.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,639 shares of company stock worth $11,067,025 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

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.