First Citizens Financial Corp Purchases 53 Shares of AbbVie Inc. (NYSE:ABBV)

First Citizens Financial Corp boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,777 shares of the company’s stock after acquiring an additional 53 shares during the quarter. First Citizens Financial Corp’s holdings in AbbVie were worth $1,141,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ABBV. Fairway Wealth LLC bought a new stake in shares of AbbVie in the 2nd quarter valued at about $26,000. Ridgewood Investments LLC acquired a new stake in shares of AbbVie in the second quarter worth $27,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of AbbVie in the 4th quarter valued at about $26,000. IFS Advisors LLC acquired a new position in AbbVie in the first quarter valued at approximately $36,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in AbbVie during the first quarter worth $37,000. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the sale, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the transaction, the chairman now owns 513,099 shares in the company, valued at $89,792,325. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $195.38 on Friday. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95. The company has a 50-day simple moving average of $193.17 and a 200-day simple moving average of $176.74. The stock has a market capitalization of $345.02 billion, a price-to-earnings ratio of 57.98, a PEG ratio of 2.65 and a beta of 0.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 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 4.3% on a year-over-year basis. During the same period last year, the firm earned $2.91 EPS. On average, analysts predict that AbbVie Inc. will post 10.86 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.17%. AbbVie’s payout ratio is currently 183.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Piper Sandler upped their price objective on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. William Blair raised AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Piper Sandler Companies reissued an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research report on Wednesday, July 3rd. Morgan Stanley lifted their price objective on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Finally, Wells Fargo & Company increased their target price on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, AbbVie currently has an average rating of “Buy” and a consensus target price of $191.64.

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.