Fiduciary Trust Co Grows Stake in AbbVie Inc. (NYSE:ABBV)

Fiduciary Trust Co raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 303,279 shares of the company’s stock after buying an additional 3,674 shares during the period. AbbVie accounts for 0.7% of Fiduciary Trust Co’s portfolio, making the stock its 23rd biggest position. Fiduciary Trust Co’s holdings in AbbVie were worth $53,893,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. FWL Investment Management LLC increased its stake in AbbVie by 13.5% during the 4th quarter. FWL Investment Management LLC now owns 1,263 shares of the company’s stock valued at $224,000 after purchasing an additional 150 shares in the last quarter. Clark Capital Management Group Inc. lifted its position in AbbVie by 4.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 3,902 shares of the company’s stock worth $693,000 after acquiring an additional 173 shares during the period. Deutsche Bank AG grew its stake in AbbVie by 27.4% during the 4th quarter. Deutsche Bank AG now owns 9,769,102 shares of the company’s stock valued at $1,735,969,000 after purchasing an additional 2,102,273 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in shares of AbbVie in the fourth quarter valued at about $542,000. Finally, Dunhill Financial LLC raised its stake in shares of AbbVie by 24.1% in the fourth quarter. Dunhill Financial LLC now owns 881 shares of the company’s stock worth $156,000 after purchasing an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ABBV shares. UBS Group increased their price target on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Guggenheim increased their price objective on shares of AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Evercore ISI upped their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Bank of America lifted their price objective on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company upped their target price on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Six investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $211.41.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This represents a 62.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This represents a 52.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,471 shares of company stock worth $23,426,451. Insiders own 0.08% of the company’s stock.

AbbVie Stock Down 1.3 %

Shares of ABBV opened at $185.58 on Friday. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock has a fifty day simple moving average of $194.70 and a two-hundred day simple moving average of $187.26. The company has a market capitalization of $328.28 billion, a PE ratio of 77.32, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. AbbVie’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $2.31 earnings per share. As a group, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 279.15%.

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.