First International Bank & Trust Cuts Stake in AbbVie Inc. (NYSE:ABBV)

First International Bank & Trust cut its position in AbbVie Inc. (NYSE:ABBV) by 11.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,601 shares of the company’s stock after selling 208 shares during the period. First International Bank & Trust’s holdings in AbbVie were worth $284,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. GGM Financials LLC lifted its position in AbbVie by 0.7% in the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after acquiring an additional 50 shares in the last quarter. Pine Haven Investment Counsel Inc raised its stake in shares of AbbVie by 0.3% in the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock worth $3,575,000 after purchasing an additional 52 shares during the last quarter. Dillon & Associates Inc. lifted its holdings in shares of AbbVie by 0.8% during the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after purchasing an additional 52 shares in the last quarter. Frisch Financial Group Inc. boosted its position in shares of AbbVie by 0.8% during the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock valued at $1,187,000 after buying an additional 53 shares during the last quarter. Finally, First Citizens Financial Corp increased its holdings in AbbVie by 0.9% in the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after buying an additional 53 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.5 %

Shares of ABBV stock opened at $178.65 on Friday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The company’s fifty day moving average price is $179.04 and its 200-day moving average price is $184.34. The company has a market capitalization of $315.70 billion, a price-to-earnings ratio of 62.03, a PEG ratio of 1.92 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion for 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 business’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.95 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 10.96 EPS for the current fiscal year.

AbbVie Increases Dividend

The business 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 dividend of $1.64 per share. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is 227.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ABBV shares. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. BMO Capital Markets dropped their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Truist Financial lowered their price target on AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Leerink Partners raised 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. 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $205.50.

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.