US Bancorp DE Sells 21,719 Shares of AbbVie Inc. (NYSE:ABBV)

US Bancorp DE reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,533,010 shares of the company’s stock after selling 21,719 shares during the quarter. US Bancorp DE owned approximately 0.14% of AbbVie worth $500,220,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Nikulski Financial Inc. boosted its stake in AbbVie by 0.7% in the 3rd quarter. Nikulski Financial Inc. now owns 37,806 shares of the company’s stock valued at $7,466,000 after purchasing an additional 264 shares during the period. HM Payson & Co. boosted its stake in AbbVie by 1.5% in the 3rd quarter. HM Payson & Co. now owns 578,416 shares of the company’s stock valued at $114,226,000 after purchasing an additional 8,585 shares during the period. Catalyst Financial Partners LLC boosted its stake in AbbVie by 1.4% in the 3rd quarter. Catalyst Financial Partners LLC now owns 12,469 shares of the company’s stock valued at $2,462,000 after purchasing an additional 173 shares during the period. Goldstone Financial Group LLC bought a new stake in AbbVie in the 3rd quarter valued at $1,728,000. Finally, Voisard Asset Management Group Inc. boosted its stake in AbbVie by 13.6% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 536 shares of the company’s stock valued at $106,000 after purchasing an additional 64 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Up 1.4 %

Shares of AbbVie stock traded up $2.80 on Thursday, hitting $204.30. 2,552,791 shares of the company’s stock traded hands, compared to its average volume of 5,303,614. AbbVie Inc. has a one year low of $135.85 and a one year high of $207.32. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The company has a fifty day moving average of $193.85 and a two-hundred day moving average of $178.91. The company has a market capitalization of $360.77 billion, a price-to-earnings ratio of 60.71, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.95 EPS. As a group, sell-side analysts expect that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.21%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is presently 183.98%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ABBV. UBS Group boosted their price target on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Wells Fargo & Company upped their target price on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Sanford C. Bernstein started coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. Bank of America upped their target price on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, TD Cowen upped their target price on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $200.11.

Insiders Place Their Bets

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

About AbbVie

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.