First National Bank Sioux Falls Grows Position in AbbVie Inc. (NYSE:ABBV)


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First National Bank Sioux Falls raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 13.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 5,863 shares of the company’s stock after purchasing an additional 674 shares during the period. First National Bank Sioux Falls’ holdings in AbbVie were worth $635,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABBV. BlackRock Inc. raised its position in shares of AbbVie by 2.0% in the 4th quarter. BlackRock Inc. now owns 124,423,484 shares of the company’s stock worth $13,331,975,000 after acquiring an additional 2,406,847 shares in the last quarter. Norges Bank purchased a new position in AbbVie in the fourth quarter valued at about $2,070,985,000. Janus Henderson Group PLC raised its holdings in AbbVie by 8.0% in the fourth quarter. Janus Henderson Group PLC now owns 18,332,278 shares of the company’s stock worth $1,964,269,000 after purchasing an additional 1,363,299 shares in the last quarter. Morgan Stanley lifted its position in shares of AbbVie by 19.0% during the fourth quarter. Morgan Stanley now owns 16,336,505 shares of the company’s stock valued at $1,750,457,000 after buying an additional 2,605,050 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of AbbVie by 24.7% in the 4th quarter. UBS Asset Management Americas Inc. now owns 11,438,531 shares of the company’s stock valued at $1,225,639,000 after buying an additional 2,263,374 shares in the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:ABBV traded down $0.12 during midday trading on Tuesday, reaching $108.13. The company’s stock had a trading volume of 23,789 shares, compared to its average volume of 7,472,022. The company has a quick ratio of 0.81, a current ratio of 0.95 and a debt-to-equity ratio of 5.38. The stock has a fifty day moving average of $106.74 and a 200 day moving average of $101.44. AbbVie Inc. has a twelve month low of $78.66 and a twelve month high of $113.41. The firm has a market capitalization of $190.83 billion, a PE ratio of 22.89, a P/E/G ratio of 1.54 and a beta of 0.84.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Tuesday, February 2nd. The company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.85 by $0.07. The company had revenue of $13.86 billion for the quarter, compared to analyst estimates of $13.70 billion. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. The firm’s revenue was up 59.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.21 earnings per share. Sell-side analysts anticipate that AbbVie Inc. will post 10.48 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Investors of record on Thursday, April 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend is Wednesday, April 14th. AbbVie’s dividend payout ratio (DPR) is 58.17%.

In other AbbVie news, EVP Timothy J. Richmond sold 19,514 shares of AbbVie stock in a transaction on Monday, March 1st. The shares were sold at an average price of $108.59, for a total value of $2,119,025.26. Following the completion of the transaction, the executive vice president now owns 19,514 shares of the company’s stock, valued at $2,119,025.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard A. Gonzalez sold 170,113 shares of the company’s stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $108.61, for a total transaction of $18,475,972.93. Following the completion of the transaction, the chief executive officer now owns 450,981 shares of the company’s stock, valued at approximately $48,981,046.41. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 198,067 shares of company stock worth $21,511,667. 0.09% of the stock is owned by corporate insiders.

A number of research firms recently commented on ABBV. Mizuho increased their target price on shares of AbbVie from $117.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, February 4th. They noted that the move was a valuation call. Royal Bank of Canada began coverage on AbbVie in a research report on Wednesday, April 7th. They issued a $135.00 price objective for the company. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $114.00 target price on the stock in a research report on Tuesday, February 9th. Morgan Stanley decreased their price target on AbbVie from $120.00 to $116.00 and set an “overweight” rating for the company in a research note on Thursday, January 28th. Finally, SVB Leerink boosted their price target on AbbVie from $140.00 to $144.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $115.65.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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