Central Bank & Trust Co. Acquires 1,692 Shares of AbbVie Inc. (NYSE:ABBV)

Central Bank & Trust Co. lifted its holdings in AbbVie Inc. (NYSE:ABBVFree Report) by 98.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,414 shares of the company’s stock after purchasing an additional 1,692 shares during the period. Central Bank & Trust Co.’s holdings in AbbVie were worth $529,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ABBV. Moneta Group Investment Advisors LLC grew its stake in shares of AbbVie by 89,097.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock valued at $4,719,514,000 after purchasing an additional 29,170,366 shares during the period. Norges Bank bought a new stake in shares of AbbVie in the 4th quarter valued at approximately $3,033,348,000. Massachusetts Financial Services Co. MA grew its stake in shares of AbbVie by 29,922.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company’s stock valued at $899,186,000 after purchasing an additional 6,012,281 shares during the period. Morgan Stanley grew its stake in shares of AbbVie by 17.9% in the 4th quarter. Morgan Stanley now owns 31,571,750 shares of the company’s stock valued at $5,102,311,000 after purchasing an additional 4,785,277 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of AbbVie by 426.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,652,122 shares of the company’s stock valued at $754,155,000 after purchasing an additional 3,768,579 shares during the period. 67.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AbbVie

In other news, CFO Scott T. Reents sold 14,140 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the completion of the sale, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at $4,802,413.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the sale, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Scott T. Reents sold 14,140 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the completion of the sale, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at $4,802,413.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 306,205 shares of company stock valued at $53,974,299. Corporate insiders own 0.26% of the company’s stock.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $177.88 on Friday. The firm has a market cap of $314.22 billion, a PE ratio of 65.16, a price-to-earnings-growth ratio of 2.29 and a beta of 0.58. The firm’s fifty day moving average is $171.96 and its 200-day moving average is $156.24. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89.

AbbVie (NYSE:ABBVGet Free Report) last released its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.03. The business had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. AbbVie’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.60 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 11.15 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.49%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is currently 227.11%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays boosted their target price on AbbVie from $175.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, February 5th. The Goldman Sachs Group raised AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 target price on the stock in a report on Monday, December 11th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Raymond James upped their price objective on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Finally, HSBC downgraded AbbVie from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $167.00 to $156.00 in a report on Monday, December 18th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $175.36.

Check Out Our Latest Stock Analysis on ABBV

AbbVie Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, 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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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