Central Bank & Trust Co. Cuts Position in AbbVie Inc. (NYSE:ABBV)

Central Bank & Trust Co. lessened its stake in AbbVie Inc. (NYSE:ABBV) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,346 shares of the company’s stock after selling 68 shares during the quarter. Central Bank & Trust Co.’s holdings in AbbVie were worth $609,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ABBV. Personal CFO Solutions LLC increased its holdings in AbbVie by 8.4% during the 3rd quarter. Personal CFO Solutions LLC now owns 6,289 shares of the company’s stock valued at $938,000 after acquiring an additional 485 shares in the last quarter. Asset Dedication LLC grew its holdings in shares of AbbVie by 8.4% during the third quarter. Asset Dedication LLC now owns 14,395 shares of the company’s stock worth $2,146,000 after buying an additional 1,120 shares in the last quarter. Natixis Advisors L.P. grew its holdings in shares of AbbVie by 43.3% during the third quarter. Natixis Advisors L.P. now owns 904,900 shares of the company’s stock worth $134,884,000 after buying an additional 273,282 shares in the last quarter. Consolidated Portfolio Review Corp grew its holdings in shares of AbbVie by 3.4% during the third quarter. Consolidated Portfolio Review Corp now owns 3,247 shares of the company’s stock worth $484,000 after buying an additional 106 shares in the last quarter. Finally, Providence Capital Advisors LLC grew its holdings in shares of AbbVie by 0.7% during the third quarter. Providence Capital Advisors LLC now owns 16,237 shares of the company’s stock worth $2,420,000 after buying an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ABBV. Guggenheim lifted their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets lowered their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Piper Sandler raised their target price on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research report on Thursday. Finally, HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research report on Wednesday, June 5th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $179.64.

AbbVie Trading Down 1.0 %

Shares of ABBV stock opened at $170.39 on Monday. The stock has a market cap of $300.89 billion, a price-to-earnings ratio of 50.56, a price-to-earnings-growth ratio of 2.20 and a beta of 0.60. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The firm’s 50 day moving average price is $163.89 and its two-hundred day moving average price is $166.93.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm posted $2.46 earnings per share. On average, analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.64%. AbbVie’s dividend payout ratio is currently 183.98%.

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.