1,104 Shares in AbbVie Inc. (NYSE:ABBV) Bought by Bank of Nova Scotia Trust Co.

Bank of Nova Scotia Trust Co. bought a new position in AbbVie Inc. (NYSE:ABBV) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 1,104 shares of the company’s stock, valued at approximately $201,000.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in AbbVie by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after acquiring an additional 9,978,415 shares during the last quarter. Capital International Investors grew its holdings in AbbVie by 6.9% in the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after acquiring an additional 3,110,601 shares during the last quarter. Capital Research Global Investors grew its holdings in AbbVie by 3.3% in the 1st quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock worth $5,698,847,000 after acquiring an additional 992,496 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in AbbVie by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after acquiring an additional 1,702,415 shares during the last quarter. Finally, Norges Bank bought a new stake in AbbVie in the 4th quarter worth $3,229,888,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 1.6 %

AbbVie stock traded up $2.99 during trading hours on Friday, hitting $185.16. The stock had a trading volume of 6,948,832 shares, compared to its average volume of 5,529,298. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The stock has a market capitalization of $326.97 billion, a P/E ratio of 54.94, a price-to-earnings-growth ratio of 2.35 and a beta of 0.64. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $186.85. The stock’s 50-day moving average price is $167.68 and its 200-day moving average price is $169.60.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 186.82%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.91 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 10.79 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a yield of 3.35%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Insiders Place Their Bets

In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at $89,792,325. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ABBV shares. Truist Financial reissued a “buy” rating and issued a $210.00 price target (up previously from $195.00) on shares of AbbVie in a report on Friday. Wells Fargo & Company lifted their target price on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research note on Wednesday, June 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Friday. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research note on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $188.71.

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.