Arbor Trust Wealth Advisors LLC Acquires 225 Shares of AbbVie Inc. (NYSE:ABBV)

Arbor Trust Wealth Advisors LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 46,553 shares of the company’s stock after acquiring an additional 225 shares during the period. AbbVie accounts for about 4.3% of Arbor Trust Wealth Advisors LLC’s investment portfolio, making the stock its 4th largest position. Arbor Trust Wealth Advisors LLC’s holdings in AbbVie were worth $7,214,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of AbbVie by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after purchasing an additional 1,450,089 shares during the last quarter. Morgan Stanley boosted its stake in shares of AbbVie by 2.9% during the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock worth $4,796,085,000 after purchasing an additional 914,485 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of AbbVie by 89,097.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock worth $4,719,514,000 after purchasing an additional 29,170,366 shares during the last quarter. Northern Trust Corp boosted its stake in shares of AbbVie by 2.3% during the 3rd quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock worth $3,269,822,000 after purchasing an additional 491,391 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of AbbVie by 1.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,356,072 shares of the company’s stock worth $3,034,276,000 after purchasing an additional 352,817 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction that occurred on 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 owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction that occurred on 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 owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott T. Reents sold 14,140 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at approximately $4,802,413.60. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock worth $67,780,003 over the last 90 days. Company insiders own 0.25% of the company’s stock.

AbbVie Trading Up 0.5 %

NYSE ABBV traded up $0.87 during mid-day trading on Tuesday, hitting $162.54. The company’s stock had a trading volume of 4,881,176 shares, compared to its average volume of 5,663,454. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The stock’s fifty day simple moving average is $176.23 and its two-hundred day simple moving average is $159.81. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The firm has a market capitalization of $287.80 billion, a P/E ratio of 59.91, a price-to-earnings-growth ratio of 2.07 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. The company 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%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.60 earnings per share. Research analysts expect that AbbVie Inc. will post 11.11 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.81%. AbbVie’s dividend payout ratio is currently 227.11%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ABBV shares. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. HSBC cut shares of AbbVie from a “buy” rating to a “hold” rating and decreased their target price for the stock from $167.00 to $156.00 in a research report on Monday, December 18th. Raymond James raised their target price on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. BMO Capital Markets raised their target price on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Guggenheim raised their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $177.43.

AbbVie 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.