AbbVie Inc. (NYSE:ABBV) Shares Sold by Bath Savings Trust Co

Bath Savings Trust Co reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 20,284 shares of the company’s stock after selling 340 shares during the period. Bath Savings Trust Co’s holdings in AbbVie were worth $3,604,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC lifted its stake in shares of AbbVie by 10,713.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 279,531 shares of the company’s stock worth $479,000 after acquiring an additional 276,946 shares during the period. Koss Olinger Consulting LLC acquired a new stake in AbbVie in the second quarter valued at about $371,000. Arbor Capital Management Inc. ADV purchased a new stake in AbbVie in the 2nd quarter valued at approximately $4,611,000. Quest Partners LLC increased its position in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the period. Finally, Moser Wealth Advisors LLC raised its stake in shares of AbbVie by 2.4% during the 2nd quarter. Moser Wealth Advisors LLC now owns 13,743 shares of the company’s stock worth $2,357,000 after buying an additional 325 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Down 0.4 %

AbbVie stock traded down $0.70 during midday trading on Tuesday, hitting $179.40. 2,426,023 shares of the stock were exchanged, compared to its average volume of 4,286,292. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The company has a 50 day moving average price of $180.20 and a two-hundred day moving average price of $184.36. The firm has a market cap of $317.02 billion, a P/E ratio of 62.29, a P/E/G ratio of 1.92 and a beta of 0.58. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the firm posted $2.95 earnings per share. The company’s revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts predict that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is 227.78%.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of recent analyst reports. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a report on Thursday, December 5th. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. BMO Capital Markets reduced their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, TD Cowen increased their target price on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.70.

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.