First National Bank & Trust Co. of Newtown Sells 2,109 Shares of AbbVie Inc. $ABBV

First National Bank & Trust Co. of Newtown lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 17.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 9,657 shares of the company’s stock after selling 2,109 shares during the period. First National Bank & Trust Co. of Newtown’s holdings in AbbVie were worth $2,100,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in AbbVie by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock valued at $41,306,353,000 after purchasing an additional 3,032,438 shares during the last quarter. State Street Corp lifted its stake in shares of AbbVie by 1.4% in the fourth quarter. State Street Corp now owns 80,940,931 shares of the company’s stock worth $18,494,193,000 after buying an additional 1,119,274 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of AbbVie by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock worth $10,179,099,000 after buying an additional 4,190,487 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of AbbVie by 1.4% during the 4th quarter. Bank of America Corp DE now owns 25,824,399 shares of the company’s stock worth $5,900,617,000 after buying an additional 356,394 shares during the period. Finally, Norges Bank bought a new stake in shares of AbbVie during the 4th quarter worth $5,865,055,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of AbbVie from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday. Bank of America upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price target for the company in a report on Thursday, April 30th. DZ Bank upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Cantor Fitzgerald increased their target price on AbbVie from $240.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Canaccord Genuity Group raised their price target on shares of AbbVie from $265.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $258.19.

AbbVie Price Performance

AbbVie stock opened at $249.98 on Friday. The business has a 50 day simple moving average of $224.54 and a 200 day simple moving average of $221.06. The company has a market capitalization of $441.67 billion, a PE ratio of 123.14, a price-to-earnings-growth ratio of 0.83 and a beta of 0.30. AbbVie Inc. has a one year low of $184.63 and a one year high of $261.64.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The firm had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. During the same period in the prior year, the business posted $2.46 earnings per share. The business’s revenue was up 12.4% compared to the same quarter last year. Equities analysts anticipate that AbbVie Inc. will post 14.25 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be given a dividend of $1.73 per share. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 2.8%. AbbVie’s dividend payout ratio (DPR) is 340.89%.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: JPMorgan raised its price target on AbbVie to $280 from $260 and kept an overweight rating, signaling confidence in further upside. Benzinga
• Positive Sentiment: The European Commission approved AbbVie’s Tepkinly-based combination for relapsed or refractory follicular lymphoma, expanding the company’s oncology footprint and potentially supporting future sales growth. Pharmaceutical Technology
• Positive Sentiment: AbbVie also completed a first-in-human ABBV-277 trial, and early safety data could matter for its pipeline if the program continues to show promise. TipRanks
• Neutral Sentiment: West Pharmaceutical completed the SmartDose 3.5mL sale to AbbVie, a transaction that helps West refocus on its core business but is not likely to be a major direct driver for AbbVie’s stock. Zacks
• Neutral Sentiment: Market commentary on cystic fibrosis drug development highlighted AbbVie’s presence in a growing orphan-drug category, but the article was broad industry context rather than a company-specific catalyst. Yahoo Finance
• Negative Sentiment: Despite the positive headlines, AbbVie’s shares ended the session lower, suggesting investors may be taking profits or waiting for the upcoming earnings report and clearer pipeline results. Zacks

About AbbVie

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.