Oakworth Capital Inc. Acquires 90 Shares of AbbVie Inc. (NYSE:ABBV)

Oakworth Capital Inc. raised its holdings in AbbVie Inc. (NYSE:ABBV) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,222 shares of the company’s stock after buying an additional 90 shares during the quarter. Oakworth Capital Inc.’s holdings in AbbVie were worth $2,049,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of AbbVie by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock valued at $23,961,001,000 after purchasing an additional 1,450,089 shares in the last quarter. Morgan Stanley boosted its stake in shares of AbbVie by 2.9% in the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock valued at $4,796,085,000 after purchasing an additional 914,485 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of 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 valued at $4,719,514,000 after purchasing an additional 29,170,366 shares in the last quarter. Northern Trust Corp boosted its stake in shares of AbbVie by 2.3% in the 3rd quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock valued at $3,269,822,000 after purchasing an additional 491,391 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in AbbVie by 1.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,356,072 shares of the company’s stock worth $3,034,276,000 after buying an additional 352,817 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 383,324 shares of company stock worth $67,780,003. Insiders own 0.25% of the company’s stock.

AbbVie Trading Up 0.8 %

Shares of ABBV stock traded up $1.38 on Wednesday, reaching $163.92. The company had a trading volume of 2,364,590 shares, compared to its average volume of 5,619,036. The company has a 50-day moving average of $176.01 and a 200-day moving average of $159.91. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The stock has a market cap of $290.24 billion, a PE ratio of 59.54, a PEG ratio of 2.09 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same period in the prior year, the business earned $3.60 EPS. AbbVie’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, equities analysts forecast that AbbVie Inc. will post 11.12 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.78%. AbbVie’s payout ratio is 227.11%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Barclays upped their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Truist Financial upped their price target on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. BMO Capital Markets upped their price target on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Raymond James upped their target price on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AbbVie currently has a consensus 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.