AbbVie Inc. (NYSE:ABBV) Shares Sold by Thomasville National Bank

Thomasville National Bank reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 29,912 shares of the company’s stock after selling 230 shares during the quarter. Thomasville National Bank’s holdings in AbbVie were worth $5,315,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ABBV. Quest Partners LLC grew its stake in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of AbbVie in the second quarter worth about $204,000. GHP Investment Advisors Inc. boosted its stake in shares of AbbVie by 1.6% in the second quarter. GHP Investment Advisors Inc. now owns 5,801 shares of the company’s stock worth $995,000 after buying an additional 90 shares during the last quarter. Inspire Advisors LLC boosted its stake in shares of AbbVie by 4.1% in the second quarter. Inspire Advisors LLC now owns 1,537 shares of the company’s stock worth $264,000 after buying an additional 61 shares during the last quarter. Finally, Lyell Wealth Management LP boosted its stake in shares of AbbVie by 4.0% in the second quarter. Lyell Wealth Management LP now owns 1,671 shares of the company’s stock worth $287,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Sanford C. Bernstein assumed coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price on the stock. Barclays increased their price target on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Morgan Stanley lowered their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a report on Thursday, December 5th. Finally, Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $205.50.

AbbVie Stock Up 0.5 %

AbbVie stock traded up $0.95 during midday trading on Monday, reaching $176.12. The company’s stock had a trading volume of 1,338,135 shares, compared to its average volume of 4,532,414. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a market cap of $311.23 billion, a P/E ratio of 61.15, a P/E/G ratio of 1.92 and a beta of 0.58. The business has a 50-day simple moving average of $178.47 and a 200-day simple moving average of $184.55.

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. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same period last year, the firm earned $2.95 earnings per share. AbbVie’s quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts expect that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.72%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is 227.78%.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

About AbbVie

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.