TI Trust Inc. Has $267,000 Position in AbbVie Inc. (NYSE:ABBV)

TI Trust Inc. lessened its position in AbbVie Inc. (NYSE:ABBV) by 17.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,505 shares of the company’s stock after selling 325 shares during the period. TI Trust Inc.’s holdings in AbbVie were worth $267,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of ABBV. Groupama Asset Managment increased its stake in AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie in the third quarter valued at approximately $28,000. Retirement Wealth Solutions LLC bought a new stake in shares of AbbVie during the fourth quarter worth $35,000. Marquette Asset Management LLC acquired a new stake in shares of AbbVie during the third quarter worth $39,000. Finally, Mizuho Securities Co. Ltd. lifted its position in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Down 0.4 %

Shares of ABBV opened at $170.05 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The firm’s 50 day moving average is $175.84 and its 200-day moving average is $184.77. The stock has a market capitalization of $300.51 billion, a PE ratio of 59.05, a P/E/G ratio of 1.68 and a beta of 0.58.

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

AbbVie Increases Dividend

The firm 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. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.86%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is 227.78%.

Insiders Place Their Bets

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were 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 owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on AbbVie to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Citigroup lowered their price objective on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Piper Sandler raised their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Barclays boosted their price target on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.50.

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.