Home Federal Bank of Tennessee Purchases 326 Shares of AbbVie Inc. (NYSE:ABBV)

Home Federal Bank of Tennessee raised its position in AbbVie Inc. (NYSE:ABBV) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,021 shares of the company’s stock after purchasing an additional 326 shares during the period. AbbVie accounts for 1.0% of Home Federal Bank of Tennessee’s investment portfolio, making the stock its 14th biggest position. Home Federal Bank of Tennessee’s holdings in AbbVie were worth $3,559,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Fairway Wealth LLC bought a new stake in shares of AbbVie in the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC bought a new position in AbbVie during the 2nd quarter worth approximately $27,000. Quest Partners LLC lifted its position in AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of AbbVie in the first quarter worth approximately $37,000. Finally, Marquette Asset Management LLC purchased a new position in shares of AbbVie in the third quarter worth $39,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

AbbVie stock traded up $0.48 during midday trading on Tuesday, reaching $187.02. 367,589 shares of the stock traded hands, compared to its average volume of 5,273,181. The stock has a market cap of $330.25 billion, a P/E ratio of 55.38, a PEG ratio of 2.66 and a beta of 0.63. The stock’s fifty day moving average is $194.37 and its 200-day moving average is $177.88. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the previous year, the firm posted $2.91 EPS. The business’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts anticipate that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.32%. AbbVie’s dividend payout ratio is 183.98%.

Insiders Place Their Bets

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. UBS Group increased their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Bank of America boosted their price target on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a research note on Wednesday, July 3rd. Truist Financial boosted their price target on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley raised their price target on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $198.47.

AbbVie 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.