First National Trust Co Buys 11,045 Shares of AbbVie Inc. (NYSE:ABBV)

First National Trust Co grew its stake in AbbVie Inc. (NYSE:ABBV) by 8.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 141,695 shares of the company’s stock after acquiring an additional 11,045 shares during the quarter. AbbVie accounts for 0.9% of First National Trust Co’s portfolio, making the stock its 22nd biggest holding. First National Trust Co’s holdings in AbbVie were worth $25,179,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Blue Bell Private Wealth Management LLC raised its position in shares of AbbVie by 30.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after purchasing an additional 52 shares during the last quarter. Physicians Financial Services Inc. raised its position in AbbVie by 0.5% during the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock worth $2,159,000 after buying an additional 55 shares during the last quarter. Wealthstream Advisors Inc. grew its stake in shares of AbbVie by 3.0% during the 3rd quarter. Wealthstream Advisors Inc. now owns 1,954 shares of the company’s stock worth $386,000 after purchasing an additional 56 shares during the period. Armstrong Advisory Group Inc. lifted its stake in shares of AbbVie by 0.6% in the 4th quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company’s stock valued at $1,749,000 after purchasing an additional 58 shares during the period. Finally, Canopy Partners LLC lifted its stake in shares of AbbVie by 1.4% in the 3rd quarter. Canopy Partners LLC now owns 4,356 shares of the company’s stock valued at $860,000 after purchasing an additional 59 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Performance

Shares of AbbVie stock opened at $211.19 on Friday. The firm has a market capitalization of $372.83 billion, a P/E ratio of 88.00, a P/E/G ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm’s 50 day moving average is $190.48 and its two-hundred day moving average is $188.06.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the previous year, the business earned $2.79 EPS. Research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.11%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,439 shares of company stock worth $11,377,057. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ABBV shares. Bank of America boosted their price target on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. UBS Group upped their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Wells Fargo & Company upped their target price on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Guggenheim boosted their price target on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Wolfe Research started coverage on shares of AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.45.

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.