Trust Co. of Toledo NA OH lowered its stake in AbbVie Inc. (NYSE:ABBV) by 0.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 50,346 shares of the company’s stock after selling 141 shares during the period. AbbVie makes up 1.0% of Trust Co. of Toledo NA OH’s holdings, making the stock its 28th biggest holding. Trust Co. of Toledo NA OH’s holdings in AbbVie were worth $5,448,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Selective Wealth Management Inc. boosted its holdings in shares of AbbVie by 16.3% in the 4th quarter. Selective Wealth Management Inc. now owns 672 shares of the company’s stock valued at $72,000 after buying an additional 94 shares during the period. Laurel Wealth Advisors Inc. boosted its holdings in shares of AbbVie by 0.5% in the 4th quarter. Laurel Wealth Advisors Inc. now owns 18,259 shares of the company’s stock valued at $1,957,000 after buying an additional 97 shares during the period. Aurora Investment Counsel boosted its holdings in shares of AbbVie by 1.0% in the 3rd quarter. Aurora Investment Counsel now owns 9,483 shares of the company’s stock valued at $941,000 after buying an additional 98 shares during the period. Kalos Management Inc. boosted its holdings in shares of AbbVie by 3.1% in the 4th quarter. Kalos Management Inc. now owns 3,247 shares of the company’s stock valued at $344,000 after buying an additional 98 shares during the period. Finally, Central Bank & Trust Co. boosted its holdings in shares of AbbVie by 10.7% in the 4th quarter. Central Bank & Trust Co. now owns 1,033 shares of the company’s stock valued at $111,000 after buying an additional 100 shares during the period. 67.49% of the stock is owned by institutional investors and hedge funds.
ABBV has been the subject of a number of analyst reports. Mizuho boosted their target price on shares of AbbVie from $117.00 to $126.00 and gave the company a “buy” rating in a research note on Thursday, February 4th. They noted that the move was a valuation call. Royal Bank of Canada initiated coverage on shares of AbbVie in a research note on Wednesday. They set a $135.00 target price for the company. SVB Leerink boosted their target price on shares of AbbVie from $140.00 to $144.00 and gave the company an “outperform” rating in a research note on Tuesday, March 30th. Morgan Stanley reduced their target price on shares of AbbVie from $120.00 to $116.00 and set an “overweight” rating for the company in a research note on Thursday, January 28th. Finally, Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a research note on Tuesday, February 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $115.65.
Shares of NYSE ABBV traded up $1.44 during midday trading on Thursday, reaching $106.65. The company’s stock had a trading volume of 93,349 shares, compared to its average volume of 7,547,554. The company has a current ratio of 0.95, a quick ratio of 0.81 and a debt-to-equity ratio of 5.38. The company has a 50 day moving average price of $106.59 and a 200 day moving average price of $100.97. AbbVie Inc. has a one year low of $74.78 and a one year high of $113.41. The company has a market cap of $188.22 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84.
AbbVie (NYSE:ABBV) last released its earnings results on Tuesday, February 2nd. The company reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.07. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. The business had revenue of $13.86 billion for the quarter, compared to the consensus estimate of $13.70 billion. During the same period in the previous year, the firm earned $2.21 EPS. The business’s revenue for the quarter was up 59.2% on a year-over-year basis. Research analysts anticipate that AbbVie Inc. will post 10.48 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 14th. Stockholders of record on Thursday, April 15th will be issued a dividend of $1.30 per share. The ex-dividend date is Wednesday, April 14th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.88%. AbbVie’s dividend payout ratio is currently 58.17%.
In other news, EVP Timothy J. Richmond sold 19,514 shares of the business’s stock in a transaction that occurred on Monday, March 1st. The shares were sold at an average price of $108.59, for a total transaction of $2,119,025.26. Following the sale, the executive vice president now owns 19,514 shares in the company, valued at $2,119,025.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard A. Gonzalez sold 170,113 shares of the business’s stock in a transaction that occurred on Monday, March 1st. The shares were sold at an average price of $108.61, for a total transaction of $18,475,972.93. Following the sale, the chief executive officer now owns 450,981 shares in the company, valued at approximately $48,981,046.41. The disclosure for this sale can be found here. Insiders have sold 198,067 shares of company stock worth $21,511,667 in the last 90 days. 0.09% of the stock is owned by company insiders.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal BehÃ§et's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenstrÃ¶m's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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