First National Bank & Trust Co. of Newtown Lowers Holdings in AbbVie Inc. (NYSE:ABBV)

First National Bank & Trust Co. of Newtown decreased its stake in AbbVie Inc. (NYSE:ABBV) by 11.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,222 shares of the company’s stock after selling 1,550 shares during the quarter. First National Bank & Trust Co. of Newtown’s holdings in AbbVie were worth $2,172,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new position in AbbVie during the third quarter worth approximately $28,000. Fiduciary Advisors Inc. purchased a new position in AbbVie during the fourth quarter worth approximately $29,000. Retirement Wealth Solutions LLC purchased a new position in AbbVie during the fourth quarter worth approximately $35,000. Mizuho Securities Co. Ltd. boosted its position in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in AbbVie during the third quarter worth approximately $39,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s 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 completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, 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. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ABBV shares. Bank of America reiterated a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research report on Tuesday, December 10th. Wells Fargo & Company increased their target price on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. BMO Capital Markets increased their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Citigroup increased their target price on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Price Performance

ABBV stock opened at $197.30 on Thursday. The business has a fifty day moving average of $179.67 and a two-hundred day moving average of $186.11. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The stock has a market cap of $348.66 billion, a price-to-earnings ratio of 82.21, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period last year, the firm posted $2.79 EPS. As a group, research analysts anticipate that AbbVie Inc. will post 12.32 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.32%. AbbVie’s dividend payout ratio is currently 273.33%.

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.