Citizens National Bank Trust Department Has $6.91 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Citizens National Bank Trust Department trimmed its stake in AbbVie Inc. (NYSE:ABBV) by 0.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 38,873 shares of the company’s stock after selling 70 shares during the period. AbbVie accounts for about 1.5% of Citizens National Bank Trust Department’s investment portfolio, making the stock its 21st largest holding. Citizens National Bank Trust Department’s holdings in AbbVie were worth $6,908,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie in the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie in the fourth quarter valued at $29,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie in the fourth quarter valued at $35,000. Mizuho Securities Co. Ltd. boosted its position in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in AbbVie during the 3rd quarter worth about $39,000. 70.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ABBV. Piper Sandler boosted their price objective on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company increased their price target on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a report on Thursday, December 5th. Finally, BMO Capital Markets upped their price objective on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Stock Performance

Shares of AbbVie stock opened at $197.30 on Thursday. The business’s fifty day simple moving average is $179.67 and its 200 day simple moving average is $186.11. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The firm has a market capitalization of $348.66 billion, a P/E ratio of 82.21, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period in the prior year, the firm earned $2.79 EPS. As a group, analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.32%. AbbVie’s payout ratio is currently 273.33%.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by insiders.

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.