Perkins Coie Trust Co Sells 375 Shares of AbbVie Inc. (NYSE:ABBV)

Perkins Coie Trust Co reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,260 shares of the company’s stock after selling 375 shares during the period. Perkins Coie Trust Co’s holdings in AbbVie were worth $3,600,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Stillwater Capital Advisors LLC increased its holdings in shares of AbbVie by 1.1% during the 4th quarter. Stillwater Capital Advisors LLC now owns 90,816 shares of the company’s stock worth $16,138,000 after purchasing an additional 1,018 shares during the period. Aaron Wealth Advisors LLC raised its holdings in AbbVie by 6.5% in the 4th quarter. Aaron Wealth Advisors LLC now owns 10,719 shares of the company’s stock valued at $1,905,000 after acquiring an additional 651 shares in the last quarter. Sandy Cove Advisors LLC lifted its position in shares of AbbVie by 13.3% in the 4th quarter. Sandy Cove Advisors LLC now owns 1,592 shares of the company’s stock worth $283,000 after acquiring an additional 187 shares during the period. Wealth Alliance Advisory Group LLC grew its holdings in shares of AbbVie by 21.7% during the 4th quarter. Wealth Alliance Advisory Group LLC now owns 9,276 shares of the company’s stock worth $1,648,000 after purchasing an additional 1,656 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC increased its position in shares of AbbVie by 4.5% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 4,706 shares of the company’s stock valued at $836,000 after purchasing an additional 203 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

AbbVie stock opened at $171.49 on Monday. The business’s 50-day simple moving average is $175.78 and its 200 day simple moving average is $184.75. 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 $303.05 billion, a price-to-earnings ratio of 59.55, a P/E/G ratio of 1.73 and a beta of 0.58. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the previous year, the firm posted $2.95 earnings per share. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is currently 215.28%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. BMO Capital Markets reduced their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Morgan Stanley decreased their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research 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. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a report on Thursday, December 5th. Finally, Guggenheim boosted their price target on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.50.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

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.