Trust Co. of Toledo NA OH Purchases 89 Shares of AbbVie Inc. $ABBV

Trust Co. of Toledo NA OH grew its position in AbbVie Inc. (NYSE:ABBV) by 0.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,549 shares of the company’s stock after buying an additional 89 shares during the period. AbbVie makes up 0.9% of Trust Co. of Toledo NA OH’s portfolio, making the stock its 25th largest position. Trust Co. of Toledo NA OH’s holdings in AbbVie were worth $7,898,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Marshall & Sullivan Inc. WA bought a new stake in AbbVie during the 2nd quarter worth approximately $25,000. TD Capital Management LLC boosted its holdings in shares of AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the period. Abound Financial LLC bought a new stake in shares of AbbVie during the first quarter worth $30,000. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie during the first quarter worth $35,000. Finally, Bear Mountain Capital Inc. lifted its position in AbbVie by 480.6% in the 2nd quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after acquiring an additional 173 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the transaction, the executive vice president owned 177,292 shares of the company’s stock, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Trading Up 0.1%

Shares of AbbVie stock opened at $230.88 on Friday. The stock has a market cap of $407.86 billion, a P/E ratio of 109.94, a P/E/G ratio of 1.35 and a beta of 0.51. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $244.81. The business’s 50 day moving average is $214.84 and its 200-day moving average is $196.79.

AbbVie (NYSE:ABBV) last released its 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). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the prior year, the business posted $2.65 earnings per share. AbbVie’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio is presently 312.38%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ABBV shares. JPMorgan Chase & Co. lifted their price target on AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. HSBC set a $225.00 target price on AbbVie in a research report on Thursday, October 2nd. Raymond James Financial reaffirmed an “outperform” rating on shares of AbbVie in a research report on Monday, August 25th. Wells Fargo & Company raised their price target on shares of AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Finally, UBS Group set a $251.00 target price on shares of AbbVie in a report on Friday, October 3rd. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $231.90.

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.