AbbVie Inc. (NYSE:ABBV) is Bank OZK’s 5th Largest Position

Bank OZK reduced its position in AbbVie Inc. (NYSE:ABBV) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,758 shares of the company’s stock after selling 580 shares during the period. AbbVie makes up about 2.2% of Bank OZK’s holdings, making the stock its 5th biggest holding. Bank OZK’s holdings in AbbVie were worth $4,457,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. DeDora Capital Inc. boosted its position in AbbVie by 5.0% in the 3rd quarter. DeDora Capital Inc. now owns 18,806 shares of the company’s stock valued at $2,803,000 after buying an additional 898 shares during the last quarter. Goldstein Advisors LLC lifted its position in shares of AbbVie by 11.9% during the third quarter. Goldstein Advisors LLC now owns 4,846 shares of the company’s stock worth $722,000 after purchasing an additional 514 shares during the last quarter. SS&H Financial Advisors Inc. bought a new position in shares of AbbVie during the third quarter worth about $7,748,000. Next Capital Management LLC bought a new position in shares of AbbVie during the third quarter worth about $261,000. Finally, Opal Wealth Advisors LLC lifted its position in shares of AbbVie by 1.2% during the third quarter. Opal Wealth Advisors LLC now owns 6,788 shares of the company’s stock worth $1,012,000 after purchasing an additional 78 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ABBV shares. BMO Capital Markets increased 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. Raymond James increased their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Barclays increased their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Guggenheim increased their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Truist Financial increased their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction that occurred on 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 owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock worth $67,780,003 over the last three months. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE:ABBV traded down $7.67 during trading hours on Friday, hitting $159.62. The stock had a trading volume of 10,721,740 shares, compared to its average volume of 5,004,945. The stock’s fifty day simple moving average is $174.59 and its 200 day simple moving average is $160.74. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The firm has a market capitalization of $282.63 billion, a price-to-earnings ratio of 58.47, a PEG ratio of 2.13 and a beta of 0.58. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. AbbVie’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business earned $2.46 earnings per share. Sell-side analysts anticipate that AbbVie Inc. will post 11.19 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

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.