Citizens Business Bank Trims Stock Position in AbbVie Inc. (NYSE:ABBV)

Citizens Business Bank decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 7.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,586 shares of the company’s stock after selling 2,740 shares during the quarter. AbbVie makes up approximately 1.1% of Citizens Business Bank’s holdings, making the stock its 25th largest holding. Citizens Business Bank’s holdings in AbbVie were worth $5,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Blue Bell Private Wealth Management LLC grew its holdings in shares of AbbVie by 39.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after purchasing an additional 81 shares during the period. Horrell Capital Management Inc. purchased a new stake in AbbVie during the third quarter worth approximately $45,000. Core Wealth Advisors Inc. increased its position in shares of AbbVie by 459.7% in the third quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after acquiring an additional 285 shares in the last quarter. Bourgeon Capital Management LLC raised its stake in shares of AbbVie by 240.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after acquiring an additional 240 shares during the period. Finally, Naples Money Management LLC acquired a new position in shares of AbbVie during the 4th quarter valued at $53,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the sale, the chief executive officer now owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kevin K. Buckbee sold 5,144 shares of the firm’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 transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 in the last ninety days. 0.25% of the stock is owned by insiders.

AbbVie Stock Performance

ABBV stock traded up $1.17 during trading on Tuesday, hitting $162.69. 5,479,940 shares of the company’s stock traded hands, compared to its average volume of 5,662,850. The stock has a market capitalization of $288.07 billion, a price-to-earnings ratio of 48.08, a price-to-earnings-growth ratio of 2.03 and a beta of 0.58. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The stock has a fifty day moving average price of $174.27 and a two-hundred day moving average price of $161.00. 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 (NYSE:ABBV) last released its quarterly earnings data on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. AbbVie’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.46 earnings per share. As a group, equities analysts anticipate that AbbVie Inc. will post 11.19 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.81%. AbbVie’s dividend payout ratio is currently 183.98%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Raymond James increased their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Barclays decreased their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday. BMO Capital Markets dropped their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Guggenheim upped their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $174.31.

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.