Citizens Business Bank Has $5.05 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Citizens Business Bank lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 7.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 32,586 shares of the company’s stock after selling 2,740 shares during the period. AbbVie accounts for 1.1% of Citizens Business Bank’s holdings, making the stock its 25th largest position. Citizens Business Bank’s holdings in AbbVie were worth $5,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of ABBV. Blue Bell Private Wealth Management LLC increased its holdings in shares of AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after buying an additional 81 shares in the last quarter. Horrell Capital Management Inc. bought a new stake in AbbVie during the 3rd quarter worth about $45,000. Core Wealth Advisors Inc. increased its position in AbbVie by 459.7% in the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock valued at $52,000 after acquiring an additional 285 shares in the last quarter. Bourgeon Capital Management LLC raised its stake in shares of AbbVie by 240.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after acquiring an additional 240 shares during the last quarter. Finally, Naples Money Management LLC acquired a new position in shares of AbbVie during the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Barclays dropped their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday. BMO Capital Markets cut their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Guggenheim boosted their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Raymond James raised their target price on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.31.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 5,144 shares of the business’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 sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’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 transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction 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 383,324 shares of company stock valued at $67,780,003 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Up 0.7 %

AbbVie stock traded up $1.17 during mid-day trading on Tuesday, hitting $162.69. 5,479,940 shares of the company’s stock were exchanged, compared to its average volume of 5,662,850. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. 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 firm has a market capitalization of $288.07 billion, a P/E ratio of 48.08, a PEG ratio of 2.03 and a beta of 0.58. The company’s 50 day simple moving average is $174.27 and its 200-day simple moving average is $161.00.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter last year, the firm posted $2.46 earnings per share. AbbVie’s revenue was up .7% compared to the same quarter last year. On average, equities analysts anticipate that AbbVie Inc. will post 11.19 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.