AbbVie Inc. (NYSE:ABBV) Position Boosted by Ledyard National Bank

Ledyard National Bank boosted its position in AbbVie Inc. (NYSE:ABBV) by 16.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 19,886 shares of the company’s stock after buying an additional 2,859 shares during the period. Ledyard National Bank’s holdings in AbbVie were worth $3,082,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. KRS Capital Management LLC raised its stake in AbbVie by 2.9% during the third quarter. KRS Capital Management LLC now owns 9,954 shares of the company’s stock worth $1,484,000 after acquiring an additional 284 shares during the period. TFG Advisers LLC lifted its holdings in shares of AbbVie by 3.7% in the 3rd quarter. TFG Advisers LLC now owns 20,068 shares of the company’s stock worth $2,991,000 after purchasing an additional 707 shares during the last quarter. Zullo Investment Group Inc. boosted its position in AbbVie by 6.0% during the 3rd quarter. Zullo Investment Group Inc. now owns 5,064 shares of the company’s stock valued at $755,000 after purchasing an additional 285 shares during the period. Walkner Condon Financial Advisors LLC grew its stake in AbbVie by 5.1% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,254 shares of the company’s stock worth $336,000 after buying an additional 109 shares during the last quarter. Finally, Accel Wealth Management increased its position in AbbVie by 9.6% in the third quarter. Accel Wealth Management now owns 4,517 shares of the company’s stock worth $673,000 after buying an additional 397 shares during the period. 70.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Raymond James upped their price target 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. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. BMO Capital Markets reduced their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday. Guggenheim raised their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Barclays reduced their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.31.

AbbVie Price Performance

ABBV stock traded up $1.90 during trading hours on Monday, hitting $161.52. 6,225,981 shares of the stock traded hands, compared to its average volume of 5,665,017. The stock has a 50-day simple moving average of $174.27 and a 200 day simple moving average of $161.00. The company has a market cap of $286.00 billion, a P/E ratio of 47.93, a P/E/G ratio of 2.03 and a beta of 0.58. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The company had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same quarter last year, the firm posted $2.46 EPS. The business’s revenue for the quarter was up .7% on a year-over-year basis. Equities analysts forecast that AbbVie Inc. will post 11.19 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.84%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Insider Transactions at AbbVie

In related news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the transaction, the chief executive officer now owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the transaction, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 in the last three months. 0.25% of the stock is currently owned by corporate insiders.

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.