First National Corp MA ADV Sells 83 Shares of AbbVie Inc. (NYSE:ABBV)

First National Corp MA ADV trimmed its position in AbbVie Inc. (NYSE:ABBV) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,936 shares of the company’s stock after selling 83 shares during the period. First National Corp MA ADV’s holdings in AbbVie were worth $1,370,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Cullen Capital Management LLC boosted its stake in shares of AbbVie by 7.2% in the 4th quarter. Cullen Capital Management LLC now owns 3,474 shares of the company’s stock valued at $538,000 after purchasing an additional 234 shares in the last quarter. Bellevue Group AG raised its stake in AbbVie by 41.2% in the fourth quarter. Bellevue Group AG now owns 6,727 shares of the company’s stock worth $1,042,000 after buying an additional 1,964 shares in the last quarter. MGO One Seven LLC grew its stake in AbbVie by 16.7% in the fourth quarter. MGO One Seven LLC now owns 27,003 shares of the company’s stock worth $4,185,000 after purchasing an additional 3,868 shares during the period. BOKF NA increased its stake in shares of AbbVie by 5.2% during the fourth quarter. BOKF NA now owns 319,340 shares of the company’s stock valued at $49,488,000 after purchasing an additional 15,642 shares in the last quarter. Finally, Ethic Inc. boosted its holdings in AbbVie by 10.2% in the fourth quarter. Ethic Inc. now owns 38,570 shares of the company’s stock worth $5,977,000 after acquiring an additional 3,574 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV traded down $0.66 during mid-day trading on Wednesday, hitting $192.35. 341,417 shares of the stock were exchanged, compared to its average volume of 5,304,673. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The company has a market cap of $339.66 billion, a PE ratio of 57.27, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95. The firm has a 50-day moving average of $193.70 and a two-hundred day moving average of $177.05.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the company posted $2.91 EPS. On average, equities analysts predict that AbbVie Inc. will post 10.86 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Tuesday, October 15th. AbbVie’s payout ratio is 183.98%.

Insider Transactions at AbbVie

In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now directly owns 513,099 shares in the company, valued at $89,792,325. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the sale, the chairman now directly owns 513,099 shares of the company’s stock, valued at $89,792,325. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction on 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 transaction, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research note on Monday, August 5th. Piper Sandler Companies reiterated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research note on Wednesday, July 3rd. Truist Financial reaffirmed a “buy” rating and set a $210.00 price target (up previously from $195.00) on shares of AbbVie in a report on Friday, July 26th. Finally, TD Cowen raised their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $194.67.

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.