Greenfield Savings Bank Purchases 188 Shares of AbbVie Inc. $ABBV

Greenfield Savings Bank lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 18,264 shares of the company’s stock after acquiring an additional 188 shares during the quarter. AbbVie makes up approximately 1.5% of Greenfield Savings Bank’s portfolio, making the stock its 17th biggest position. Greenfield Savings Bank’s holdings in AbbVie were worth $3,390,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ABBV. TD Capital Management LLC boosted its position in AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Abound Financial LLC bought a new stake in AbbVie during the first quarter valued at about $30,000. Siemens Fonds Invest GmbH boosted its position in AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after purchasing an additional 119,141 shares in the last quarter. Cypress Capital Management LLC WY bought a new stake in AbbVie during the first quarter valued at about $35,000. Finally, Pinney & Scofield Inc. bought a new stake in AbbVie during the fourth quarter valued at about $36,000. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the transaction, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the transaction, the executive vice president owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ABBV shares. Piper Sandler started coverage on AbbVie in a research report on Tuesday, August 12th. They set an “overweight” rating and a $231.00 price objective on the stock. Daiwa Capital Markets raised AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective on the stock in a research report on Thursday, August 7th. Citigroup raised their price target on AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday, June 11th. Guggenheim raised their price target on AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Finally, Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.10.

AbbVie Price Performance

Shares of NYSE ABBV opened at $218.40 on Friday. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $221.76. The company has a market cap of $385.82 billion, a PE ratio of 104.00, a P/E/G ratio of 1.42 and a beta of 0.53. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The business has a 50-day simple moving average of $200.25 and a two-hundred day simple moving average of $194.52.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.93 billion. During the same quarter in the previous year, the business earned $2.65 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is presently 312.38%.

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.