Equitable Trust Co. Acquires 193 Shares of AbbVie Inc. $ABBV

Equitable Trust Co. grew its stake in AbbVie Inc. (NYSE:ABBV) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,939 shares of the company’s stock after acquiring an additional 193 shares during the period. Equitable Trust Co.’s holdings in AbbVie were worth $6,671,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in AbbVie by 0.5% in the first quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company’s stock worth $36,439,271,000 after purchasing an additional 845,787 shares during the period. Northern Trust Corp grew its position in shares of AbbVie by 0.9% during the 1st quarter. Northern Trust Corp now owns 22,013,920 shares of the company’s stock worth $4,612,357,000 after buying an additional 189,294 shares during the period. Goldman Sachs Group Inc. grew its position in shares of AbbVie by 31.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock worth $3,068,820,000 after buying an additional 3,519,187 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in AbbVie by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,771,854 shares of the company’s stock valued at $2,675,959,000 after buying an additional 713,148 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in AbbVie by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 9,413,033 shares of the company’s stock valued at $1,972,050,000 after buying an additional 45,871 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 0.1%

ABBV stock opened at $230.36 on Tuesday. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The stock has a market capitalization of $406.94 billion, a P/E ratio of 109.70, a P/E/G ratio of 1.42 and a beta of 0.51. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The business has a 50-day moving average of $215.50 and a 200-day moving average of $196.89.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.AbbVie’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.65 earnings per share. On average, sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a yield of 2.8%. AbbVie’s dividend payout ratio is 312.38%.

Analyst Upgrades and Downgrades

Several brokerages have commented on ABBV. BMO Capital Markets upped their target price on shares of AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. JPMorgan Chase & Co. raised their target price on AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Evercore ISI upped their price target on AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. HSBC set a $225.00 price objective on shares of AbbVie in a report on Thursday, October 2nd. Finally, Wall Street Zen cut shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Saturday. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $231.90.

Insider Buying and Selling

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the transaction, the executive vice president directly owned 177,292 shares in the company, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, the executive vice president owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by company insiders.

About AbbVie

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.