AbbVie Inc. (NYSE:ABBV) Shares Sold by Iowa State Bank

Iowa State Bank cut its stake in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 11.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,957 shares of the company’s stock after selling 6,658 shares during the quarter. AbbVie comprises about 1.9% of Iowa State Bank’s investment portfolio, making the stock its 12th largest position. Iowa State Bank’s holdings in AbbVie were worth $8,052,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Syntax Advisors LLC grew its stake in AbbVie by 4.2% in the 2nd quarter. Syntax Advisors LLC now owns 1,667 shares of the company’s stock valued at $225,000 after acquiring an additional 67 shares during the last quarter. Goepper Burkhardt LLC boosted its stake in shares of AbbVie by 1.9% during the 4th quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock worth $567,000 after purchasing an additional 67 shares during the last quarter. First Bank & Trust boosted its stake in shares of AbbVie by 0.4% during the 4th quarter. First Bank & Trust now owns 18,125 shares of the company’s stock worth $2,809,000 after purchasing an additional 68 shares during the last quarter. Hudock Inc. boosted its stake in shares of AbbVie by 2.5% during the 4th quarter. Hudock Inc. now owns 2,801 shares of the company’s stock worth $434,000 after purchasing an additional 68 shares during the last quarter. Finally, Clearwater Capital Advisors LLC boosted its stake in shares of AbbVie by 3.9% during the 3rd quarter. Clearwater Capital Advisors LLC now owns 1,859 shares of the company’s stock worth $277,000 after purchasing an additional 69 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the sale, the executive vice president now directly owns 60,941 shares in the company, valued at $10,895,641.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 over the last 90 days. 0.25% of the stock is owned by company insiders.

AbbVie Stock Down 0.0 %

Shares of ABBV stock traded down $0.04 during mid-day trading on Tuesday, reaching $180.72. 4,523,844 shares of the company were exchanged, compared to its average volume of 5,643,128. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The company has a market capitalization of $319.99 billion, a P/E ratio of 66.20, a P/E/G ratio of 2.31 and a beta of 0.58. The business’s 50 day simple moving average is $175.54 and its 200 day simple moving average is $158.67.

AbbVie (NYSE:ABBVGet Free Report) last released its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter last year, the company earned $3.60 earnings per share. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. Research analysts predict that AbbVie Inc. will post 11.15 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio is presently 227.11%.

Analyst Upgrades and Downgrades

ABBV has been the topic of several analyst reports. The Goldman Sachs Group raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price target on the stock in a research note on Monday, December 11th. Raymond James increased their price objective on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. BMO Capital Markets increased their price objective on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Guggenheim increased their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, HSBC lowered shares of AbbVie from a “buy” rating to a “hold” rating and cut their price objective for the stock from $167.00 to $156.00 in a report on Monday, December 18th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $177.43.

Read Our Latest Stock Analysis on ABBV

AbbVie Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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