AbbVie Inc. (NYSE:ABBV) Position Decreased by Pioneer Trust Bank N A OR

Pioneer Trust Bank N A OR reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 5.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,245 shares of the company’s stock after selling 240 shares during the quarter. Pioneer Trust Bank N A OR’s holdings in AbbVie were worth $572,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ABBV. Goepper Burkhardt LLC grew its position in shares of AbbVie by 1.9% in the 4th quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock valued at $567,000 after buying an additional 67 shares during the last quarter. Naviter Wealth LLC increased its position in AbbVie by 0.9% during the 1st quarter. Naviter Wealth LLC now owns 7,378 shares of the company’s stock valued at $1,176,000 after purchasing an additional 68 shares during the period. Delta Financial Group Inc. raised its holdings in AbbVie by 1.2% during the 1st quarter. Delta Financial Group Inc. now owns 5,757 shares of the company’s stock worth $917,000 after purchasing an additional 68 shares during the last quarter. Sand Hill Global Advisors LLC lifted its position in shares of AbbVie by 0.4% in the 1st quarter. Sand Hill Global Advisors LLC now owns 18,755 shares of the company’s stock worth $2,989,000 after purchasing an additional 68 shares during the period. Finally, Kistler Tiffany Companies LLC increased its position in shares of AbbVie by 0.6% during the first quarter. Kistler Tiffany Companies LLC now owns 12,314 shares of the company’s stock worth $1,963,000 after buying an additional 70 shares during the period. 67.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on ABBV shares. HSBC assumed coverage on AbbVie in a research report on Friday, July 14th. They set a “buy” rating and a $167.00 target price on the stock. Piper Jaffray Companies increased their price target on AbbVie from $163.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. Piper Sandler raised their price objective on shares of AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. TheStreet upgraded shares of AbbVie from a “c+” rating to a “b” rating in a report on Monday, August 28th. Finally, Credit Suisse Group cut their price target on AbbVie from $170.00 to $160.00 in a research note on Wednesday, July 12th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $165.79.

AbbVie Stock Performance

Shares of AbbVie stock opened at $153.93 on Tuesday. The firm has a market capitalization of $271.69 billion, a P/E ratio of 31.67, a price-to-earnings-growth ratio of 2.79 and a beta of 0.58. The company has a current ratio of 0.89, a quick ratio of 0.77 and a debt-to-equity ratio of 4.33. The business’s fifty day simple moving average is $146.42 and its 200 day simple moving average is $147.44. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $168.11.

AbbVie (NYSE:ABBV) last released its earnings results on Thursday, July 27th. The company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.12. The company had revenue of $13.87 billion for the quarter, compared to analysts’ expectations of $13.52 billion. AbbVie had a return on equity of 151.29% and a net margin of 15.50%. As a group, analysts anticipate that AbbVie Inc. will post 11.03 EPS for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date is Thursday, October 12th. AbbVie’s dividend payout ratio is currently 121.81%.

Insider Transactions at AbbVie

In other AbbVie news, CEO Richard A. Gonzalez sold 18,500 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $149.15, for a total transaction of $2,759,275.00. Following the completion of the transaction, the chief executive officer now directly owns 625,294 shares of the company’s stock, valued at $93,262,600.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by company insiders.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.