First Bank & Trust Has $3.29 Million Position in AbbVie Inc. (NYSE:ABBV)

First Bank & Trust cut its holdings in AbbVie Inc. (NYSE:ABBV) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,654 shares of the company’s stock after selling 174 shares during the quarter. First Bank & Trust’s holdings in AbbVie were worth $3,289,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Fairway Wealth LLC bought a new stake in AbbVie during the second quarter worth approximately $26,000. Ridgewood Investments LLC bought a new position in AbbVie in the 2nd quarter worth $27,000. Quest Partners LLC lifted its position in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new position in AbbVie during the 1st quarter worth $37,000. Finally, Marquette Asset Management LLC bought a new stake in AbbVie during the third quarter valued at about $39,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s 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 completion of the transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of ABBV traded down $1.80 during trading hours on Friday, hitting $187.85. The stock had a trading volume of 4,017,525 shares, compared to its average volume of 5,287,914. The stock has a market capitalization of $331.72 billion, a price-to-earnings ratio of 55.74, a P/E/G ratio of 2.66 and a beta of 0.63. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The company’s fifty day moving average is $194.02 and its two-hundred day moving average is $178.28. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $199.95.

AbbVie (NYSE:ABBV) last issued 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. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.91 earnings per share. On average, analysts anticipate that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.30%. AbbVie’s payout ratio is 183.98%.

Wall Street Analyst Weigh In

ABBV has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. TD Cowen increased their price objective on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Truist Financial boosted their target price on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Wednesday, July 3rd. Finally, BMO Capital Markets boosted their price objective on shares of AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $199.39.

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.