BancFirst Trust & Investment Management Purchases 249 Shares of AbbVie Inc. (NYSE:ABBV)

BancFirst Trust & Investment Management lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 7.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,650 shares of the company’s stock after purchasing an additional 249 shares during the period. AbbVie comprises approximately 0.3% of BancFirst Trust & Investment Management’s investment portfolio, making the stock its 24th largest holding. BancFirst Trust & Investment Management’s holdings in AbbVie were worth $643,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ABBV. Old Port Advisors lifted its holdings in AbbVie by 5.7% during the fourth quarter. Old Port Advisors now owns 1,190 shares of the company’s stock valued at $212,000 after purchasing an additional 64 shares during the last quarter. Legacy Wealth Management LLC MS bought a new stake in shares of AbbVie in the third quarter valued at approximately $321,000. Birmingham Capital Management Co. Inc. AL lifted its stake in shares of AbbVie by 3.0% during the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 30,622 shares of the company’s stock valued at $6,047,000 after buying an additional 900 shares in the last quarter. DGS Capital Management LLC grew its stake in AbbVie by 12.4% in the 3rd quarter. DGS Capital Management LLC now owns 3,361 shares of the company’s stock valued at $664,000 after buying an additional 371 shares in the last quarter. Finally, Copley Financial Group Inc. bought a new stake in AbbVie during the 3rd quarter valued at $489,000. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

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 in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Performance

Shares of ABBV stock traded up $0.60 on Thursday, reaching $178.30. The stock had a trading volume of 985,380 shares, compared to its average volume of 5,562,377. The stock has a market cap of $315.08 billion, a P/E ratio of 61.91, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The company has a 50 day simple moving average of $180.73 and a 200 day simple moving average of $184.08.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. AbbVie’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.95 EPS. Equities research analysts expect that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.68%. AbbVie’s payout ratio is currently 227.78%.

Analysts Set New Price Targets

ABBV has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Wolfe Research began coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective for the company. Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Barclays upped their target price 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. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.70.

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.