AbbVie Inc. (NYSE:ABBV) Stock Position Decreased by Webster Bank N. A.

Webster Bank N. A. lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 2.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 61,442 shares of the company’s stock after selling 1,559 shares during the period. AbbVie accounts for about 1.2% of Webster Bank N. A.’s portfolio, making the stock its 17th biggest position. Webster Bank N. A.’s holdings in AbbVie were worth $10,918,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Magnolia Capital Advisors LLC grew its position in AbbVie by 89.5% in the 2nd quarter. Magnolia Capital Advisors LLC now owns 9,256 shares of the company’s stock worth $1,588,000 after purchasing an additional 4,371 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of AbbVie by 0.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 227,071 shares of the company’s stock worth $38,948,000 after buying an additional 1,843 shares during the period. Sunbelt Securities Inc. grew its holdings in AbbVie by 3.5% in the 2nd quarter. Sunbelt Securities Inc. now owns 48,020 shares of the company’s stock worth $8,236,000 after buying an additional 1,622 shares in the last quarter. William B. Walkup & Associates Inc. acquired a new stake in AbbVie in the 2nd quarter valued at approximately $4,336,000. Finally, Invst LLC boosted its position in AbbVie by 23.0% during the 2nd quarter. Invst LLC now owns 4,133 shares of the company’s stock worth $704,000 after acquiring an additional 774 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 3.9 %

NYSE:ABBV opened at $176.90 on Tuesday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The firm has a market capitalization of $312.60 billion, a price-to-earnings ratio of 61.42, a PEG ratio of 1.68 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The business’s fifty day moving average price is $175.84 and its 200 day moving average price is $184.89.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.95 earnings per share. On average, sell-side analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s payout ratio is currently 227.78%.

Analyst Ratings Changes

ABBV has been the topic of a number of research analyst reports. Morgan Stanley lowered their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Wolfe Research started coverage on shares of AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. UBS Group boosted their target price on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Piper Sandler increased their price target on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.50.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by company insiders.

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.