AbbVie Inc. (NYSE:ABBV) is Davidson Trust Co.’s 3rd Largest Position

Davidson Trust Co. boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 0.2% in the fourth quarter, HoldingsChannel reports. The firm owned 43,246 shares of the company’s stock after purchasing an additional 107 shares during the period. AbbVie comprises about 4.3% of Davidson Trust Co.’s portfolio, making the stock its 3rd largest holding. Davidson Trust Co.’s holdings in AbbVie were worth $6,702,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Retirement Income Solutions Inc bought a new position in AbbVie during the 1st quarter worth approximately $204,000. Ergoteles LLC lifted its holdings in AbbVie by 17.8% during the 1st quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock worth $909,000 after buying an additional 847 shares during the last quarter. First Western Trust Bank bought a new position in AbbVie during the 1st quarter worth approximately $1,150,000. Wsfs Capital Management LLC bought a new stake in shares of AbbVie in the 1st quarter worth approximately $562,000. Finally, Bridgewater Associates LP lifted its holdings in shares of AbbVie by 80.4% in the 1st quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock worth $12,242,000 after purchasing an additional 33,661 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ABBV shares. Barclays raised their price target on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Raymond James raised their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Truist Financial raised their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Finally, Guggenheim raised their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $177.43.

AbbVie Price Performance

Shares of ABBV stock traded up $0.98 during mid-day trading on Friday, hitting $165.64. 1,404,070 shares of the stock traded hands, compared to its average volume of 5,580,114. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The firm has a market cap of $293.29 billion, a price-to-earnings ratio of 60.43, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The company’s 50-day simple moving average is $175.59 and its 200-day simple moving average is $159.97. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same period last year, the firm earned $3.60 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, equities research analysts expect that AbbVie Inc. will post 11.18 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is 227.11%.

Insider Buying and Selling

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Scott T. Reents sold 14,140 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following the completion of the sale, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at approximately $4,802,413.60. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock worth $67,780,003 in the last three months. 0.25% of the stock is currently owned by insiders.

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.