AbbVie Inc. (NYSE:ABBV) Shares Bought by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,025 shares of the company’s stock after purchasing an additional 70 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in AbbVie were worth $795,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ABBV. Fairway Wealth LLC bought a new stake in shares of AbbVie in the second quarter worth $26,000. Ridgewood Investments LLC acquired a new stake in shares of AbbVie in the 2nd quarter valued at about $27,000. Able Wealth Management LLC bought a new position in shares of AbbVie during the fourth quarter worth about $33,000. IFS Advisors LLC acquired a new position in AbbVie in the first quarter worth about $36,000. Finally, Quest Partners LLC increased its holdings 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 during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Piper Sandler Companies reiterated an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research report on Wednesday, July 3rd. Truist Financial boosted their target price on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday. Barclays raised their price target on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. BMO Capital Markets boosted their price objective on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Finally, TD Cowen raised their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.00.

Insiders Place Their Bets

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction on 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 sale, the chairman now owns 513,099 shares of the company’s stock, valued at $89,792,325. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Down 0.1 %

Shares of AbbVie stock opened at $194.21 on Friday. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $199.95. The business’s fifty day moving average price is $194.08 and its two-hundred day moving average price is $177.41. The company has a market capitalization of $342.95 billion, a P/E ratio of 57.63, a PEG ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share 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 the consensus estimate of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.91 earnings per share. As a group, research analysts forecast that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.19%. AbbVie’s payout ratio is 183.98%.

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.