First International Bank & Trust Sells 208 Shares of AbbVie Inc. (NYSE:ABBV)

First International Bank & Trust lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 11.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,601 shares of the company’s stock after selling 208 shares during the quarter. First International Bank & Trust’s holdings in AbbVie were worth $284,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABBV. GGM Financials LLC increased its position in AbbVie by 0.7% during the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after acquiring an additional 50 shares during the last quarter. Pine Haven Investment Counsel Inc boosted its stake in shares of AbbVie by 0.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock worth $3,575,000 after purchasing an additional 52 shares during the period. Dillon & Associates Inc. grew its holdings in AbbVie by 0.8% during the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after purchasing an additional 52 shares during the last quarter. Frisch Financial Group Inc. raised its position in AbbVie by 0.8% in the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after purchasing an additional 53 shares during the period. Finally, First Citizens Financial Corp raised its position in AbbVie by 0.9% in the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.5 %

ABBV opened at $178.65 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm has a market cap of $315.70 billion, a price-to-earnings ratio of 62.03, a PEG ratio of 1.92 and a beta of 0.58. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The stock has a fifty day moving average price of $179.04 and a 200-day moving average price of $184.34.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.95 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.67%. AbbVie’s dividend payout ratio is presently 227.78%.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ABBV. Bank of America reaffirmed a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Piper Sandler lifted their target price on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Finally, BMO Capital Markets reduced their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $205.50.

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.