AbbVie Inc. (NYSE:ABBV) is Bank OZK’s 5th Largest Position

Bank OZK trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 2.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 28,758 shares of the company’s stock after selling 580 shares during the period. AbbVie makes up about 2.2% of Bank OZK’s holdings, making the stock its 5th largest holding. Bank OZK’s holdings in AbbVie were worth $4,457,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ABBV. DeDora Capital Inc. boosted its position in shares of AbbVie by 5.0% during the third quarter. DeDora Capital Inc. now owns 18,806 shares of the company’s stock worth $2,803,000 after buying an additional 898 shares during the period. Goldstein Advisors LLC boosted its position in shares of AbbVie by 11.9% during the third quarter. Goldstein Advisors LLC now owns 4,846 shares of the company’s stock worth $722,000 after buying an additional 514 shares during the period. SS&H Financial Advisors Inc. purchased a new position in shares of AbbVie during the third quarter worth $7,748,000. Next Capital Management LLC purchased a new position in shares of AbbVie during the third quarter worth $261,000. Finally, Opal Wealth Advisors LLC boosted its position in shares of AbbVie by 1.2% during the third quarter. Opal Wealth Advisors LLC now owns 6,788 shares of the company’s stock worth $1,012,000 after buying an additional 78 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the sale, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares in the company, valued at approximately $10,895,641.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 383,324 shares of company stock worth $67,780,003. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on ABBV shares. BMO Capital Markets raised their price target on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Barclays lifted their target price on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Guggenheim lifted their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Truist Financial lifted their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $177.43.

AbbVie Stock Down 4.6 %

AbbVie stock traded down $7.67 during midday trading on Friday, reaching $159.62. The company’s stock had a trading volume of 10,721,740 shares, compared to its average volume of 5,004,945. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The company has a market cap of $282.63 billion, a P/E ratio of 58.47, a P/E/G ratio of 2.13 and a beta of 0.58. The business has a 50-day simple moving average of $174.59 and a 200-day simple moving average of $160.74.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same period last year, the firm earned $2.46 earnings per share. AbbVie’s quarterly revenue was up .7% on a year-over-year basis. On average, research analysts expect that AbbVie Inc. will post 11.19 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is currently 227.11%.

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.