Arbor Trust Wealth Advisors LLC Has $7.21 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Arbor Trust Wealth Advisors LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,553 shares of the company’s stock after acquiring an additional 225 shares during the period. AbbVie comprises approximately 4.3% of Arbor Trust Wealth Advisors LLC’s holdings, making the stock its 4th largest position. Arbor Trust Wealth Advisors LLC’s holdings in AbbVie were worth $7,214,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC boosted its holdings in AbbVie by 89,097.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock worth $4,719,514,000 after buying an additional 29,170,366 shares during the period. Norges Bank purchased a new stake in AbbVie in the 4th quarter worth $3,033,348,000. Massachusetts Financial Services Co. MA lifted its stake in AbbVie by 29,922.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company’s stock worth $899,186,000 after purchasing an additional 6,012,281 shares in the last quarter. Morgan Stanley lifted its stake in AbbVie by 17.9% in the 4th quarter. Morgan Stanley now owns 31,571,750 shares of the company’s stock worth $5,102,311,000 after purchasing an additional 4,785,277 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in AbbVie by 426.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,652,122 shares of the company’s stock worth $754,155,000 after purchasing an additional 3,768,579 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The disclosure for this sale can be found here. Insiders have sold 383,324 shares of company stock worth $67,780,003 in the last three months. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Up 0.5 %

AbbVie stock traded up $0.87 during midday trading on Tuesday, reaching $162.54. The stock had a trading volume of 4,881,176 shares, compared to its average volume of 5,663,454. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The firm has a market cap of $287.80 billion, a price-to-earnings ratio of 59.91, a price-to-earnings-growth ratio of 2.07 and a beta of 0.58. The company has a fifty day moving average of $176.23 and a 200 day moving average of $159.81.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.60 EPS. On average, analysts anticipate that AbbVie Inc. will post 11.11 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.81%. AbbVie’s dividend payout ratio is currently 227.11%.

Analyst Upgrades and Downgrades

ABBV has been the topic of several research analyst reports. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Raymond James boosted their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. HSBC cut shares of AbbVie from a “buy” rating to a “hold” rating and decreased their target price for the company from $167.00 to $156.00 in a research report on Monday, December 18th. BMO Capital Markets upped their target price on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, Truist Financial upped their target price on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $177.43.

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.