WASHINGTON TRUST Co Has $5.36 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

WASHINGTON TRUST Co grew its holdings in AbbVie Inc. (NYSE:ABBV) by 0.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 30,143 shares of the company’s stock after acquiring an additional 127 shares during the quarter. WASHINGTON TRUST Co’s holdings in AbbVie were worth $5,356,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. AMF Tjanstepension AB acquired a new stake in AbbVie in the third quarter valued at $8,777,000. Creative Planning lifted its stake in AbbVie by 5.8% in the 3rd quarter. Creative Planning now owns 750,811 shares of the company’s stock valued at $147,086,000 after purchasing an additional 40,925 shares during the last quarter. Swedbank AB grew its holdings in AbbVie by 0.3% during the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock worth $424,014,000 after purchasing an additional 6,810 shares during the period. HFG Advisors Inc. acquired a new position in AbbVie during the third quarter worth approximately $205,000. Finally, nVerses Capital LLC raised its stake in AbbVie by 29.4% in the third quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $434,000 after buying an additional 500 shares during the period. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Performance

NYSE ABBV opened at $193.00 on Friday. The firm’s 50 day simple moving average is $178.59 and its 200 day simple moving average is $185.96. The firm has a market capitalization of $341.05 billion, a price-to-earnings ratio of 80.42, a P/E/G ratio of 1.53 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period last year, the company posted $2.79 earnings per share. As a group, research analysts expect that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.40%. AbbVie’s dividend payout ratio (DPR) is currently 273.33%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ABBV. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Wolfe Research began coverage on shares of AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective on the stock. UBS Group lifted their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. 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’s stock. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

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.