Bath Savings Trust Co Sells 515 Shares of AbbVie Inc. $ABBV

Bath Savings Trust Co decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,875 shares of the company’s stock after selling 515 shares during the period. Bath Savings Trust Co’s holdings in AbbVie were worth $3,689,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ABBV. TD Capital Management LLC lifted its stake in AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Abound Financial LLC bought a new stake in AbbVie during the first quarter worth about $30,000. Cypress Capital Management LLC WY bought a new stake in AbbVie during the first quarter worth about $35,000. Pinney & Scofield Inc. bought a new stake in AbbVie during the fourth quarter worth about $36,000. Finally, Inlight Wealth Management LLC bought a new stake in AbbVie during the first quarter worth about $42,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

AbbVie stock opened at $220.16 on Thursday. The stock’s 50 day simple moving average is $201.98 and its two-hundred day simple moving average is $194.84. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The stock has a market cap of $388.93 billion, a price-to-earnings ratio of 104.84, a PEG ratio of 1.39 and a beta of 0.53. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $221.76.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.65 earnings per share. As a group, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s payout ratio is currently 312.38%.

Insider Buying and Selling

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the sale, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the sale, the executive vice president directly owned 177,292 shares in the company, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company lifted their price target on AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Citigroup lifted their price target on AbbVie to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. lifted their price target on AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday. Bank of America lifted their price target on AbbVie to $204.00 and gave the stock a “hold” rating in a research note on Monday, June 9th. Finally, Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $222.68.

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.