Members Trust Co Decreases Stake in AbbVie Inc. (NYSE:ABBV)

Members Trust Co lowered its stake in AbbVie Inc. (NYSE:ABBV) by 11.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,234 shares of the company’s stock after selling 400 shares during the period. Members Trust Co’s holdings in AbbVie were worth $500,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hibernia Wealth Partners LLC acquired a new position in AbbVie during the third quarter valued at $36,000. True Wealth Design LLC acquired a new position in shares of AbbVie in the fourth quarter worth about $39,000. KB Financial Partners LLC acquired a new position in shares of AbbVie in the first quarter worth about $45,000. PCA Investment Advisory Services Inc. acquired a new position in shares of AbbVie in the second quarter worth about $38,000. Finally, Blue Bell Private Wealth Management LLC raised its position in shares of AbbVie by 39.5% in the third 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 during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ABBV shares. Barclays upped their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. HSBC downgraded shares of AbbVie from a “buy” rating to a “hold” rating and dropped their target price for the company from $167.00 to $156.00 in a research report on Monday, December 18th. Truist Financial raised their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Finally, Raymond James raised their price objective on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Three investment 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $177.43.

AbbVie Price Performance

ABBV traded down $0.61 during midday trading on Monday, reaching $161.67. 5,433,195 shares of the company’s stock were exchanged, compared to its average volume of 5,675,829. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The stock has a market capitalization of $286.26 billion, a PE ratio of 59.70, a P/E/G ratio of 2.07 and a beta of 0.58. The business’s 50-day moving average price is $176.42 and its 200 day moving average price is $159.75. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. The business had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.60 earnings per share. As a group, equities analysts anticipate that AbbVie Inc. will post 11.11 EPS for the current fiscal 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 paid a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.83%. AbbVie’s dividend payout ratio is currently 227.11%.

Insiders Place Their Bets

In other news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the transaction, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the sale, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 over the last ninety days. 0.25% 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.