Iowa State Bank Sells 6,658 Shares of AbbVie Inc. (NYSE:ABBV)

Iowa State Bank trimmed its stake in AbbVie Inc. (NYSE:ABBVFree Report) by 11.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 51,957 shares of the company’s stock after selling 6,658 shares during the quarter. AbbVie accounts for about 1.9% of Iowa State Bank’s holdings, making the stock its 12th largest position. Iowa State Bank’s holdings in AbbVie were worth $8,052,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of AbbVie by 0.9% during the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after purchasing an additional 1,450,089 shares during the last quarter. State Street Corp grew its stake in AbbVie by 1.5% in the second quarter. State Street Corp now owns 78,182,567 shares of the company’s stock valued at $10,533,537,000 after purchasing an additional 1,156,130 shares in the last quarter. Morgan Stanley lifted its position in shares of AbbVie by 2.9% in the third quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock valued at $4,796,085,000 after buying an additional 914,485 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of AbbVie by 89,097.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock valued at $4,719,514,000 after buying an additional 29,170,366 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of AbbVie by 2.3% in the third quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock valued at $3,269,822,000 after buying an additional 491,391 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Truist Financial lifted their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. BMO Capital Markets lifted their price target on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Guggenheim lifted their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. HSBC cut AbbVie from a “buy” rating to a “hold” rating and dropped their price objective for the company from $167.00 to $156.00 in a report on Monday, December 18th. Finally, Raymond James lifted their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $177.43.

Check Out Our Latest Research Report on ABBV

Insider Buying and Selling

In related 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 sale, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AbbVie news, EVP Perry C. Siatis sold 13,753 shares of AbbVie stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $177.51, for a total transaction of $2,441,295.03. Following the transaction, the executive vice president now directly owns 28,173 shares of the company’s stock, valued at approximately $5,000,989.23. The sale 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 AbbVie stock in a transaction dated Thursday, February 29th. The stock was 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 in the company, valued at $1,233,546.95. 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 90 days. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of ABBV traded down $0.04 during midday trading on Tuesday, hitting $180.72. The company’s stock had a trading volume of 4,523,844 shares, compared to its average volume of 5,643,128. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The company’s fifty day simple moving average is $175.54 and its two-hundred day simple moving average is $158.67. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The stock has a market capitalization of $319.99 billion, a price-to-earnings ratio of 66.20, a price-to-earnings-growth ratio of 2.31 and a beta of 0.58.

AbbVie (NYSE:ABBVGet Free Report) last issued its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share 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 analyst estimates of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. AbbVie’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.60 EPS. As a group, equities analysts expect that AbbVie Inc. will post 11.15 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.43%. AbbVie’s dividend payout ratio is currently 227.11%.

About AbbVie

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Beh├žet'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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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