Whittier Trust Co. of Nevada Inc. Sells 841 Shares of AbbVie Inc. (NYSE:ABBV)

Whittier Trust Co. of Nevada Inc. decreased its position in AbbVie Inc. (NYSE:ABBV) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,422 shares of the company’s stock after selling 841 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in AbbVie were worth $19,634,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whittier Trust Co. raised its holdings in shares of AbbVie by 1.1% during the third quarter. Whittier Trust Co. now owns 247,046 shares of the company’s stock valued at $48,786,000 after purchasing an additional 2,720 shares during the period. Northwest Investment Counselors LLC bought a new position in shares of AbbVie in the 3rd quarter worth $208,000. Berry Wealth Group LP lifted its holdings in shares of AbbVie by 2.7% in the 3rd quarter. Berry Wealth Group LP now owns 2,448 shares of the company’s stock worth $483,000 after purchasing an additional 64 shares in the last quarter. Bellecapital International Ltd. lifted its holdings in shares of AbbVie by 0.4% in the 3rd quarter. Bellecapital International Ltd. now owns 57,938 shares of the company’s stock worth $11,442,000 after purchasing an additional 220 shares in the last quarter. Finally, Koss Olinger Consulting LLC lifted its holdings in shares of AbbVie by 18.5% in the 3rd quarter. Koss Olinger Consulting LLC now owns 2,566 shares of the company’s stock worth $507,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of several recent analyst reports. Sanford C. Bernstein began coverage on AbbVie in a research note on Thursday. They set a “market perform” rating and a $203.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. Piper Sandler boosted their target price on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. UBS Group boosted their price objective on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company boosted their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $198.47.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

AbbVie Price Performance

ABBV stock traded down $2.66 during mid-day trading on Monday, hitting $186.20. The company had a trading volume of 2,702,543 shares, compared to its average volume of 5,287,566. The company has a market capitalization of $328.80 billion, a price-to-earnings ratio of 55.78, a P/E/G ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $199.95. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The company has a 50-day moving average price of $194.44 and a 200 day moving average price of $177.74.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. The business had revenue of $14.46 billion for 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 quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.91 EPS. On average, research analysts anticipate that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio is 183.98%.

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.