Community Bank & Trust Waco Texas Has $6.42 Million Stake in AbbVie Inc. $ABBV

Community Bank & Trust Waco Texas decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,584 shares of the company’s stock after selling 123 shares during the period. AbbVie comprises 1.5% of Community Bank & Trust Waco Texas’ portfolio, making the stock its 23rd biggest position. Community Bank & Trust Waco Texas’ holdings in AbbVie were worth $6,419,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Childress Capital Advisors LLC raised its position in AbbVie by 25.1% in the 2nd quarter. Childress Capital Advisors LLC now owns 8,310 shares of the company’s stock worth $1,542,000 after purchasing an additional 1,667 shares during the last quarter. Consolidated Portfolio Review Corp raised its position in AbbVie by 11.1% in the 2nd quarter. Consolidated Portfolio Review Corp now owns 2,373 shares of the company’s stock worth $441,000 after purchasing an additional 237 shares during the last quarter. LBP AM SA raised its position in AbbVie by 19.8% in the 2nd quarter. LBP AM SA now owns 193,058 shares of the company’s stock worth $35,835,000 after purchasing an additional 31,964 shares during the last quarter. Victrix Investment Advisors raised its position in AbbVie by 9.8% in the 2nd quarter. Victrix Investment Advisors now owns 9,696 shares of the company’s stock worth $1,800,000 after purchasing an additional 867 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. raised its position in AbbVie by 1.7% in the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,514 shares of the company’s stock worth $7,149,000 after purchasing an additional 655 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ABBV. Citigroup boosted their price objective on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, June 11th. Cantor Fitzgerald boosted their price objective on shares of AbbVie from $215.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday, September 15th. Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Morgan Stanley boosted their price objective on shares of AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, Bank of America lifted their target price on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $223.45.

Insider Buying and Selling at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the transaction, the executive vice president owned 177,292 shares of the company’s stock, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the transaction, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This trade represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

AbbVie Price Performance

Shares of ABBV stock opened at $231.47 on Wednesday. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $232.35. The firm has a market capitalization of $408.91 billion, a price-to-earnings ratio of 110.22, a price-to-earnings-growth ratio of 1.31 and a beta of 0.53. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The firm has a fifty day moving average of $207.89 and a 200-day moving average of $195.37.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. During the same period last year, the firm earned $2.65 EPS. AbbVie’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. AbbVie’s payout ratio is 312.38%.

About AbbVie

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.