AbbVie Inc. (NYSE:ABBV) Shares Sold by First National Trust Co

First National Trust Co trimmed its position in AbbVie Inc. (NYSE:ABBV) by 6.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 141,079 shares of the company’s stock after selling 8,970 shares during the period. AbbVie makes up approximately 1.0% of First National Trust Co’s portfolio, making the stock its 22nd largest holding. First National Trust Co’s holdings in AbbVie were worth $21,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. Tectonic Advisors LLC grew its position in AbbVie by 10.4% in the 3rd quarter. Tectonic Advisors LLC now owns 27,034 shares of the company’s stock valued at $4,030,000 after buying an additional 2,542 shares during the last quarter. FSC Wealth Advisors LLC boosted its position in shares of AbbVie by 5.3% during the 3rd quarter. FSC Wealth Advisors LLC now owns 2,171 shares of the company’s stock worth $324,000 after purchasing an additional 110 shares in the last quarter. FinTrust Capital Advisors LLC boosted its position in shares of AbbVie by 8.9% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 11,716 shares of the company’s stock worth $1,746,000 after purchasing an additional 958 shares in the last quarter. Raymond James & Associates boosted its position in shares of AbbVie by 2.1% during the 3rd quarter. Raymond James & Associates now owns 4,430,353 shares of the company’s stock worth $660,388,000 after purchasing an additional 92,342 shares in the last quarter. Finally, Clearwater Capital Advisors LLC boosted its position in shares of AbbVie by 3.9% during the 3rd quarter. Clearwater Capital Advisors LLC now owns 1,859 shares of the company’s stock worth $277,000 after purchasing an additional 69 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Truist Financial boosted their target price on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. BMO Capital Markets decreased their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Barclays decreased their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Finally, Raymond James boosted their price objective 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. Three investment 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $174.31.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction that occurred on 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 directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. 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 90 days. 0.25% of the stock is currently owned by insiders.

AbbVie Price Performance

ABBV stock traded up $2.98 during trading on Friday, hitting $163.79. The stock had a trading volume of 5,850,102 shares, compared to its average volume of 5,457,836. The company’s 50 day moving average price is $173.13 and its two-hundred day moving average price is $161.22. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The stock has a market cap of $290.01 billion, a price-to-earnings ratio of 48.60, a price-to-earnings-growth ratio of 2.07 and a beta of 0.61. 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 (NYSE:ABBV) last announced its earnings results 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 firm had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter in the previous year, the company posted $2.46 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. On average, sell-side analysts forecast that AbbVie Inc. will post 11.29 EPS for the current fiscal year.

AbbVie Dividend Announcement

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 paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio is currently 183.98%.

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.