Trustmark National Bank Trust Department Cuts Stake in AbbVie Inc. (NYSE:ABBV)

Trustmark National Bank Trust Department reduced its stake in AbbVie Inc. (NYSE:ABBV) by 6.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,709 shares of the company’s stock after selling 2,733 shares during the period. Trustmark National Bank Trust Department’s holdings in AbbVie were worth $7,056,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC boosted its stake in shares of AbbVie by 30.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after purchasing an additional 52 shares in the last quarter. Physicians Financial Services Inc. raised its holdings in AbbVie by 0.5% in the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock worth $2,159,000 after buying an additional 55 shares during the last quarter. Armstrong Advisory Group Inc. lifted its position in AbbVie by 0.6% in the 4th quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock valued at $1,749,000 after acquiring an additional 58 shares in the last quarter. Doliver Advisors LP boosted its position in shares of AbbVie by 1.1% during the fourth quarter. Doliver Advisors LP now owns 5,276 shares of the company’s stock valued at $938,000 after buying an additional 59 shares during the last quarter. Finally, Sound Financial Strategies Group LLC grew its stake in shares of AbbVie by 5.3% in the fourth quarter. Sound Financial Strategies Group LLC now owns 1,197 shares of the company’s stock worth $213,000 after acquiring an additional 60 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on ABBV shares. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. UBS Group raised their target price 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. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. StockNews.com downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 9th. Finally, Guggenheim lifted their target price on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $210.71.

Insider Buying and Selling

In related news, 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 in the company, valued at $4,429,199.90. The trade was a 20.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This trade represents a 52.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock worth $23,426,451 in the last three months. 0.25% of the stock is owned by insiders.

AbbVie Stock Performance

Shares of AbbVie stock opened at $174.90 on Monday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The stock’s fifty day moving average price is $200.16 and its 200-day moving average price is $188.47. The firm has a market cap of $309.39 billion, a P/E ratio of 72.87, a P/E/G ratio of 1.62 and a beta of 0.55. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

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 in the prior year, the business posted $2.79 earnings per share. On average, equities research 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 Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

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.