AbbVie Inc. (NYSE:ABBV) Shares Acquired by Independence Bank of Kentucky

Independence Bank of Kentucky lifted its holdings in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,530 shares of the company’s stock after buying an additional 449 shares during the period. Independence Bank of Kentucky’s holdings in AbbVie were worth $1,787,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ABBV. VitalStone Financial LLC boosted its position in shares of AbbVie by 218.4% during the second quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock worth $33,000 after buying an additional 166 shares during the period. Hibernia Wealth Partners LLC acquired a new stake in AbbVie in the third quarter worth approximately $36,000. PCA Investment Advisory Services Inc. acquired a new stake in AbbVie in the second quarter worth approximately $38,000. True Wealth Design LLC acquired a new stake in AbbVie in the fourth quarter worth approximately $39,000. Finally, Blue Bell Private Wealth Management LLC lifted its position in AbbVie by 39.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after purchasing an additional 81 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Down 1.9 %

Shares of ABBV stock opened at $177.34 on Thursday. The stock’s 50 day simple moving average is $175.80 and its 200 day simple moving average is $158.87. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The company has a market capitalization of $314.01 billion, a price-to-earnings ratio of 65.56, a PEG ratio of 2.30 and a beta of 0.58.

AbbVie (NYSE:ABBVGet Free Report) last issued its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. During the same period last year, the business earned $3.60 EPS. The firm’s revenue was down 5.4% compared to the same quarter last year. As a group, research analysts predict that AbbVie Inc. will post 11.15 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is currently 227.11%.

Analysts Set New Price Targets

A number of research firms have weighed in on ABBV. Barclays upped their target price on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. BMO Capital Markets upped their target price on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Guggenheim upped their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Raymond James upped their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.43.

Get Our Latest Stock Report on ABBV

Insiders Place Their Bets

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the sale, the executive vice president now directly owns 55,903 shares in the company, valued at $9,855,698.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the sale, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock valued at $67,780,003 in the last three months. Company insiders own 0.25% of the company’s stock.

AbbVie Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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