Glenview Trust co Purchases 1,314 Shares of AbbVie Inc. (NYSE:ABBV)

Glenview Trust co boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 411,135 shares of the company’s stock after buying an additional 1,314 shares during the quarter. AbbVie accounts for approximately 1.4% of Glenview Trust co’s holdings, making the stock its 19th biggest position. Glenview Trust co’s holdings in AbbVie were worth $73,059,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sovereign Investment Advisors LLC bought a new position in shares of AbbVie in the 4th quarter worth approximately $573,000. Harbour Investments Inc. boosted its holdings in AbbVie by 3.5% in the 4th quarter. Harbour Investments Inc. now owns 22,958 shares of the company’s stock worth $4,080,000 after buying an additional 780 shares during the period. Corient Private Wealth LLC grew its position in shares of AbbVie by 2.5% during the fourth quarter. Corient Private Wealth LLC now owns 2,333,915 shares of the company’s stock worth $414,002,000 after purchasing an additional 56,369 shares in the last quarter. Gitterman Wealth Management LLC bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $266,000. Finally, one8zero8 LLC bought a new stake in AbbVie in the 4th quarter valued at $2,070,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV opened at $211.90 on Friday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm has a market cap of $374.07 billion, a P/E ratio of 88.29, a P/E/G ratio of 1.62 and a beta of 0.61. The business’s 50 day moving average price is $191.09 and its 200 day moving average price is $188.10.

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 analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter last year, the company earned $2.79 EPS. On average, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.10%. AbbVie’s payout ratio is 273.33%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Morgan Stanley upped their price target on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. UBS Group lifted their target price on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Wells Fargo & Company boosted their price target on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, Piper Sandler raised their price objective on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $211.45.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares of the company’s stock, valued at $8,985,223.60. The trade was a 40.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,439 shares of company stock valued at $11,377,057. Corporate insiders own 0.25% of the company’s stock.

About AbbVie

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.