First National Trust Co. boosted its holdings in AbbVie Inc (NYSE:ABBV) by 0.9% during the third quarter, HoldingsChannel.com reports. The firm owned 132,055 shares of the company’s stock after acquiring an additional 1,195 shares during the quarter. AbbVie comprises about 1.4% of First National Trust Co.’s portfolio, making the stock its 15th largest holding. First National Trust Co.’s holdings in AbbVie were worth $11,734,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Iberiabank Corp lifted its stake in shares of AbbVie by 1.2% in the second quarter. Iberiabank Corp now owns 81,633 shares of the company’s stock worth $5,919,000 after buying an additional 934 shares in the last quarter. Lawson Kroeker Investment Management Inc. NE lifted its stake in shares of AbbVie by 2.4% in the second quarter. Lawson Kroeker Investment Management Inc. NE now owns 4,546 shares of the company’s stock worth $330,000 after buying an additional 106 shares in the last quarter. Waverton Investment Management Ltd lifted its stake in shares of AbbVie by 2.8% in the second quarter. Waverton Investment Management Ltd now owns 10,455 shares of the company’s stock worth $758,000 after buying an additional 286 shares in the last quarter. Private Trust Co. NA lifted its position in AbbVie by 6.4% during the second quarter. Private Trust Co. NA now owns 86,540 shares of the company’s stock valued at $6,274,000 after purchasing an additional 5,219 shares during the period. Finally, Capital Investment Advisors LLC lifted its position in AbbVie by 3.5% during the second quarter. Capital Investment Advisors LLC now owns 25,330 shares of the company’s stock valued at $1,837,000 after purchasing an additional 868 shares during the period. Institutional investors and hedge funds own 69.22% of the company’s stock.
Shares of AbbVie Inc (NYSE ABBV) opened at $104.64 on Monday. AbbVie Inc has a twelve month low of $59.27 and a twelve month high of $104.87. The company has a market cap of $167,050.42, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 1.22 and a beta of 1.52. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a dividend of $0.71 per share. This is a boost from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio is currently 69.10%.
A number of research analysts recently weighed in on ABBV shares. UBS Group downgraded shares of AbbVie from a “buy” rating to a “neutral” rating and increased their price objective for the company from $79.00 to $92.00 in a research report on Monday, September 25th. Jefferies Group restated a “buy” rating and set a $107.00 price objective on shares of AbbVie in a research report on Thursday, September 28th. Deutsche Bank increased their price objective on shares of AbbVie to $88.00 and gave the company a “hold” rating in a research report on Thursday, September 28th. Morgan Stanley increased their price objective on shares of AbbVie from $70.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, September 29th. Finally, Argus increased their price objective on shares of AbbVie from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, September 29th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $101.38.
In other news, insider Henry O. Gosebruch sold 18,300 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $90.55, for a total value of $1,657,065.00. Following the completion of the sale, the insider now directly owns 81,287 shares of the company’s stock, valued at $7,360,537.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Timothy J. Richmond sold 87,040 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the completion of the sale, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at $11,136,467.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 494,676 shares of company stock valued at $47,237,938. 0.23% of the stock is owned by corporate insiders.
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AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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