First National Trust Co Sells 2,186 Shares of AbbVie Inc. (NYSE:ABBV)

First National Trust Co lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 130,650 shares of the company’s stock after selling 2,186 shares during the quarter. AbbVie accounts for approximately 1.0% of First National Trust Co’s investment portfolio, making the stock its 20th largest holding. First National Trust Co’s holdings in AbbVie were worth $25,801,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Fairway Wealth LLC bought a new stake in AbbVie in the second quarter valued at $26,000. Ridgewood Investments LLC bought a new stake in shares of AbbVie in the 2nd quarter worth about $27,000. Marquette Asset Management LLC bought a new position in AbbVie during the 3rd quarter valued at about $39,000. Quest Partners LLC boosted its position in AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares in the last quarter. Finally, Burkett Financial Services LLC grew its stake in AbbVie by 61.2% during the third quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock worth $43,000 after buying an additional 82 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

Shares of ABBV opened at $174.44 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.71 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12 month low of $136.30 and a 12 month high of $207.32. The firm has a fifty day simple moving average of $194.58 and a 200 day simple moving average of $180.78. The stock has a market capitalization of $308.26 billion, a price-to-earnings ratio of 60.57, a PEG ratio of 2.44 and a beta of 0.63.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $2.95 earnings per share. Research analysts forecast that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.76%. AbbVie’s dividend payout ratio is currently 215.28%.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of AbbVie in a report on Monday, August 5th. Morgan Stanley boosted their target price on shares of AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Wells Fargo & Company boosted their price objective on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, TD Cowen lifted their price objective on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.82.

AbbVie Company 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.