AbbVie Inc. (NYSE:ABBV) Shares Bought by Camden National Bank

Camden National Bank boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 6.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,509 shares of the company’s stock after buying an additional 673 shares during the period. Camden National Bank’s holdings in AbbVie were worth $1,867,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie in the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie in the 4th quarter valued at $29,000. Promus Capital LLC acquired a new position in shares of AbbVie in the 4th quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of AbbVie in the 4th quarter valued at $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction 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 transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,439 shares of company stock valued at $11,377,057. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ABBV shares. Wolfe Research started coverage on AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research note on Friday, November 22nd. Raymond James reissued an “outperform” rating and set a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Piper Sandler increased their target price on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Piper Sandler Companies restated an “overweight” rating and set a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. 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.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $211.45.

AbbVie Stock Up 1.8 %

AbbVie stock opened at $214.55 on Friday. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $215.66. The company has a market cap of $378.75 billion, a PE ratio of 89.40, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. The stock’s 50 day moving average price is $187.63 and its 200 day moving average price is $187.59.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period last year, the firm earned $2.79 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.06%. AbbVie’s dividend payout ratio is presently 273.33%.

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.