American National Bank & Trust Co. VA Makes New Investment in AbbVie Inc. (NYSE:ABBV)

American National Bank & Trust Co. VA bought a new position in AbbVie Inc. (NYSE:ABBV) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 55,983 shares of the company’s stock, valued at approximately $10,194,000. AbbVie makes up approximately 2.4% of American National Bank & Trust Co. VA’s portfolio, making the stock its 9th biggest holding.

Several other hedge funds have also added to or reduced their stakes in the stock. Lokken Investment Group LLC boosted its stake in AbbVie by 3.6% during the 4th quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock worth $258,000 after purchasing an additional 58 shares during the period. Aspen Wealth Strategies LLC raised its position in AbbVie by 0.5% during the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after buying an additional 61 shares during the last quarter. Marks Group Wealth Management Inc raised its position in AbbVie by 2.9% during the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after buying an additional 63 shares during the last quarter. Spinnaker Investment Group LLC raised its position in AbbVie by 1.6% during the 1st quarter. Spinnaker Investment Group LLC now owns 4,068 shares of the company’s stock worth $741,000 after buying an additional 64 shares during the last quarter. Finally, Avion Wealth raised its position in AbbVie by 11.9% during the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock worth $95,000 after buying an additional 65 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $163.84 on Friday. The company has a market cap of $289.32 billion, a PE ratio of 48.62, a price-to-earnings-growth ratio of 2.10 and a beta of 0.64. AbbVie Inc. has a 12 month low of $132.70 and a 12 month high of $182.89. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The company has a 50-day simple moving average of $164.43 and a 200-day simple moving average of $167.77.

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

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a $1.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.78%. AbbVie’s payout ratio is 183.98%.

Analyst Ratings Changes

ABBV has been the subject of a number of research analyst reports. Guggenheim increased their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets cut 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 Companies reiterated an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Wednesday. Barclays cut their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Finally, Piper Sandler restated an “overweight” rating and set a $190.00 target price on shares of AbbVie in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.07.

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.