Thomasville National Bank Has $12.80 Million Position in AbbVie Inc (NYSE:ABBV)

Thomasville National Bank boosted its holdings in shares of AbbVie Inc (NYSE:ABBV) by 275.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,020 shares of the company’s stock after buying an additional 124,007 shares during the period. AbbVie comprises 2.1% of Thomasville National Bank’s portfolio, making the stock its 17th largest holding. Thomasville National Bank’s holdings in AbbVie were worth $12,798,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Weaver Consulting Group bought a new position in shares of AbbVie during the first quarter valued at $25,000. Arbor Wealth Management LLC bought a new position in shares of AbbVie in the second quarter valued at about $28,000. Lowe Wealth Advisors LLC raised its holdings in shares of AbbVie by 206.7% in the second quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 310 shares during the last quarter. Horrell Capital Management Inc. bought a new position in shares of AbbVie in the second quarter valued at about $33,000. Finally, TD Capital Management LLC bought a new position in shares of AbbVie in the second quarter valued at about $33,000. Hedge funds and other institutional investors own 68.15% of the company’s stock.

ABBV has been the subject of a number of research analyst reports. ValuEngine raised AbbVie from a “strong sell” rating to a “sell” rating in a report on Monday. Cowen set a $90.00 price target on AbbVie and gave the company a “buy” rating in a report on Tuesday, September 24th. TheStreet cut AbbVie from a “b-” rating to a “c” rating in a report on Monday, August 26th. Leerink Swann raised AbbVie to a “buy” rating in a report on Tuesday, July 2nd. Finally, Wolfe Research raised AbbVie from an “underperform” rating to a “peer perform” rating in a report on Thursday, June 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. AbbVie presently has an average rating of “Hold” and an average target price of $91.04.

In other news, SVP Nicholas Donoghoe acquired 7,525 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was purchased at an average cost of $66.19 per share, for a total transaction of $498,079.75. Following the completion of the transaction, the senior vice president now directly owns 13,090 shares in the company, valued at $866,427.10. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Timothy J. Richmond sold 15,515 shares of AbbVie stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $75.02, for a total value of $1,163,935.30. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 183,077 shares of company stock valued at $10,705,751. Corporate insiders own 0.08% of the company’s stock.

ABBV stock traded up $1.21 during midday trading on Thursday, reaching $73.34. The stock had a trading volume of 264,977 shares, compared to its average volume of 8,394,597. The business has a fifty day simple moving average of $68.78 and a two-hundred day simple moving average of $74.17. The firm has a market cap of $111.95 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 1.55 and a beta of 0.98. AbbVie Inc has a twelve month low of $62.66 and a twelve month high of $96.60.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 26th. The company reported $2.26 EPS for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.05. The firm had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.09 billion. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The company’s revenue was down .3% on a year-over-year basis. During the same period last year, the company earned $2.00 earnings per share. Equities analysts anticipate that AbbVie Inc will post 8.9 EPS for the current year.

The company also recently disclosed a — dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a $1.07 dividend. The ex-dividend date is Friday, October 11th. This represents a yield of 6.4%. AbbVie’s payout ratio is 54.11%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

Further Reading: Discount Rate

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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