AbbVie Inc. (NYSE:ABBV) Stock Position Cut by First National Bank of Mount Dora Trust Investment Services

First National Bank of Mount Dora Trust Investment Services cut its holdings in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,262 shares of the company’s stock after selling 447 shares during the period. AbbVie comprises about 2.4% of First National Bank of Mount Dora Trust Investment Services’ portfolio, making the stock its 8th biggest position. First National Bank of Mount Dora Trust Investment Services’ holdings in AbbVie were worth $7,086,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Intelligent Financial Strategies purchased a new stake in AbbVie during the fourth quarter worth about $27,000. GoalVest Advisory LLC acquired a new position in shares of AbbVie during the first quarter worth about $33,000. Joseph P. Lucia & Associates LLC acquired a new position in shares of AbbVie during the first quarter worth about $34,000. Cordant Inc. acquired a new position in shares of AbbVie during the first quarter worth about $42,000. Finally, Monumental Financial Group Inc. acquired a new position in shares of AbbVie during the first quarter worth about $52,000. 68.25% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

ABBV stock opened at $143.01 on Friday. AbbVie Inc. has a twelve month low of $106.44 and a twelve month high of $175.91. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 4.15. The business has a 50 day simple moving average of $141.99 and a 200-day simple moving average of $149.56. The company has a market capitalization of $252.86 billion, a P/E ratio of 20.26, a PEG ratio of 3.98 and a beta of 0.72.

AbbVie (NYSE:ABBVGet Rating) last released its quarterly earnings results on Friday, July 29th. The company reported $3.51 EPS for the quarter, topping the consensus estimate of $3.42 by $0.09. AbbVie had a return on equity of 158.41% and a net margin of 22.03%. The business had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $14.64 billion. During the same quarter in the prior year, the business earned $3.11 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, equities analysts anticipate that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Thursday, October 13th. AbbVie’s dividend payout ratio (DPR) is presently 79.89%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Atlantic Securities lowered their price objective on AbbVie from $178.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, August 1st. UBS Group lowered their price target on AbbVie from $154.00 to $146.00 and set a “neutral” rating for the company in a report on Monday, August 1st. Barclays lowered their price target on AbbVie to $160.00 in a report on Tuesday, August 9th. Morgan Stanley lowered their price target on AbbVie from $191.00 to $188.00 and set an “overweight” rating for the company in a report on Monday, August 1st. Finally, Piper Sandler lowered their price target on AbbVie from $160.00 to $155.00 in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $159.35.

About AbbVie

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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), and 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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