First Interstate Bank Has $1.15 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

First Interstate Bank lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 7.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,419 shares of the company’s stock after selling 586 shares during the quarter. First Interstate Bank’s holdings in AbbVie were worth $1,150,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Hibernia Wealth Partners LLC bought a new position in shares of AbbVie in the 3rd quarter worth about $36,000. True Wealth Design LLC bought a new position in shares of AbbVie in the 4th quarter worth about $39,000. KB Financial Partners LLC bought a new position in shares of AbbVie in the 1st quarter worth about $45,000. PCA Investment Advisory Services Inc. bought a new position in shares of AbbVie in the 2nd quarter worth about $38,000. Finally, Blue Bell Private Wealth Management LLC raised its position in shares of AbbVie by 39.5% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after acquiring an additional 81 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 0.5 %

NYSE ABBV traded up $0.87 during trading on Tuesday, hitting $162.54. 4,881,176 shares of the company’s stock traded hands, compared to its average volume of 5,663,454. The stock has a fifty day moving average of $176.23 and a two-hundred day moving average of $159.81. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The firm has a market cap of $287.80 billion, a P/E ratio of 59.91, a PEG ratio of 2.07 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its 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. The company had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. AbbVie’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.60 earnings per share. As a group, sell-side analysts expect that AbbVie Inc. will post 11.11 EPS for the current year.

AbbVie Dividend Announcement

The business 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. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.81%. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

Insider Activity

In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the transaction, 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 available through the SEC website. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the transaction, the executive vice president now owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,324 shares of company stock worth $67,780,003. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on ABBV. Barclays lifted their price target on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. BMO Capital Markets boosted their target price on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Guggenheim boosted their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. HSBC downgraded AbbVie from a “buy” rating to a “hold” rating and cut their target price for the stock from $167.00 to $156.00 in a research note on Monday, December 18th. Finally, Raymond James boosted their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $177.43.

AbbVie Company 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.