Simmons Bank Sells 315 Shares of AbbVie Inc. (NYSE:ABBV)

Simmons Bank decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 0.5% in the 4th quarter, HoldingsChannel reports. The firm owned 65,658 shares of the company’s stock after selling 315 shares during the quarter. AbbVie accounts for approximately 0.8% of Simmons Bank’s portfolio, making the stock its 29th largest position. Simmons Bank’s holdings in AbbVie were worth $10,175,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ABBV. Massachusetts Financial Services Co. MA grew its stake in shares of AbbVie by 29,922.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company’s stock worth $899,186,000 after purchasing an additional 6,012,281 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of AbbVie during the fourth quarter worth $499,955,000. Charles Schwab Investment Management Inc. grew its stake in shares of AbbVie by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after purchasing an additional 1,702,415 shares during the period. Vanguard Group Inc. grew its stake in shares of AbbVie by 0.9% during the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after purchasing an additional 1,450,089 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of AbbVie by 201.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,143,910 shares of the company’s stock worth $332,242,000 after purchasing an additional 1,433,236 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV traded down $2.37 during midday trading on Wednesday, hitting $160.18. The company’s stock had a trading volume of 3,689,679 shares, compared to its average volume of 5,634,244. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The company’s fifty day simple moving average is $172.48 and its two-hundred day simple moving average is $161.62. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The stock has a market capitalization of $283.62 billion, a price-to-earnings ratio of 47.55, a price-to-earnings-growth ratio of 2.07 and a beta of 0.61.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. AbbVie’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the business posted $2.46 EPS. As a group, equities analysts expect that AbbVie Inc. will post 11.29 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.87%. AbbVie’s payout ratio is presently 183.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ABBV shares. Raymond James increased their price target on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Truist Financial upped their price target on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Barclays cut their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.31.

Insider Buying and Selling

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Scott T. Reents sold 14,140 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $177.44, for a total value of $2,509,001.60. Following the completion of the sale, the chief financial officer now owns 27,065 shares in the company, valued at $4,802,413.60. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock valued at $67,780,003 over the last ninety days. 0.25% of the stock is owned by corporate insiders.

AbbVie Company 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.