Whittier Trust Co. of Nevada Inc. Has $17.90 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Whittier Trust Co. of Nevada Inc. boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,719 shares of the company’s stock after purchasing an additional 1,297 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in AbbVie were worth $17,898,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ABBV. HUB Investment Partners LLC grew its holdings in shares of AbbVie by 3.9% in the 4th quarter. HUB Investment Partners LLC now owns 69,050 shares of the company’s stock worth $12,270,000 after purchasing an additional 2,565 shares during the last quarter. Northwest & Ethical Investments L.P. lifted its position in AbbVie by 3.4% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 195,450 shares of the company’s stock valued at $34,731,000 after purchasing an additional 6,375 shares during the period. Symmetry Partners LLC lifted its position in AbbVie by 40.1% during the 4th quarter. Symmetry Partners LLC now owns 1,831 shares of the company’s stock valued at $325,000 after purchasing an additional 524 shares during the period. Lingohr Asset Management GmbH acquired a new stake in shares of AbbVie in the 4th quarter valued at approximately $885,000. Finally, Teacher Retirement System of Texas raised its position in shares of AbbVie by 52.2% in the 4th quarter. Teacher Retirement System of Texas now owns 755,359 shares of the company’s stock valued at $134,227,000 after acquiring an additional 259,051 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the transaction, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,639 shares of company stock valued at $11,067,025. 0.25% of the stock is owned by corporate insiders.

AbbVie Price Performance

Shares of ABBV opened at $211.54 on Friday. The stock has a market capitalization of $373.44 billion, a P/E ratio of 88.14, a P/E/G ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. The company has a 50 day moving average of $193.80 and a 200-day moving average of $188.64. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the prior year, the firm earned $2.79 EPS. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 3.10%. AbbVie’s dividend payout ratio is currently 273.33%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a research report on Monday. Morgan Stanley increased their price target on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Guggenheim increased their price target on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Piper Sandler increased their price target on shares of 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 three have issued a strong buy rating to the company. According to MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $211.45.

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.