Emprise Bank Has $290,000 Holdings in AbbVie Inc. (NYSE:ABBV)

Emprise Bank cut its stake in AbbVie Inc. (NYSE:ABBV) by 23.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,634 shares of the company’s stock after selling 498 shares during the period. Emprise Bank’s holdings in AbbVie were worth $290,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp grew its holdings in AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after purchasing an additional 1,267,685 shares during the period. Legal & General Group Plc raised its position in AbbVie by 0.9% during the second quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock worth $2,620,382,000 after acquiring an additional 134,239 shares in the last quarter. FMR LLC raised its position in shares of AbbVie by 3.9% in the third quarter. FMR LLC now owns 13,630,404 shares of the company’s stock valued at $2,691,732,000 after purchasing an additional 511,470 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in AbbVie by 6.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after acquiring an additional 582,953 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in AbbVie by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock worth $1,842,642,000 after acquiring an additional 373,802 shares during the period. 70.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ABBV. Morgan Stanley reduced their price target on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. JPMorgan Chase & Co. dropped their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Bank of America reiterated a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a report on Tuesday, December 10th. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a report on Friday, November 22nd. Finally, UBS Group raised their price objective on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. 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 company. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie Trading Up 0.5 %

Shares of NYSE:ABBV traded up $0.95 during trading on Monday, reaching $176.12. 1,338,135 shares of the company traded hands, compared to its average volume of 4,532,414. The firm has a market capitalization of $311.23 billion, a price-to-earnings ratio of 61.15, a P/E/G ratio of 1.92 and a beta of 0.58. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The business’s fifty day moving average is $178.47 and its 200-day moving average is $184.55.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.95 earnings per share. As a group, analysts forecast that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.72%. AbbVie’s dividend payout ratio is 227.78%.

Insiders Place Their Bets

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 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by corporate insiders.

About AbbVie

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.