First Bank & Trust Cuts Stock Position in AbbVie Inc (NYSE:ABBV)

First Bank & Trust cut its position in AbbVie Inc (NYSE:ABBV) by 10.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,619 shares of the company’s stock after selling 3,644 shares during the quarter. AbbVie comprises 2.3% of First Bank & Trust’s holdings, making the stock its 4th biggest position. First Bank & Trust’s holdings in AbbVie were worth $3,104,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Capstone Financial Group Inc. acquired a new position in AbbVie during the 2nd quarter valued at about $25,000. Lion Street Advisors LLC acquired a new position in AbbVie during the 1st quarter valued at about $29,000. Horrell Capital Management Inc. acquired a new position in AbbVie during the 1st quarter valued at about $34,000. Lake Point Wealth Management increased its stake in AbbVie by 179.4% during the 1st quarter. Lake Point Wealth Management now owns 475 shares of the company’s stock valued at $36,000 after buying an additional 305 shares during the period. Finally, NWK Group Inc. acquired a new position in AbbVie during the 1st quarter valued at about $42,000. Hedge funds and other institutional investors own 72.40% of the company’s stock.

Shares of AbbVie stock traded up $0.29 during trading on Wednesday, hitting $92.67. The stock had a trading volume of 7,208,300 shares, compared to its average volume of 10,502,634. The stock has a 50 day simple moving average of $97.07 and a 200 day simple moving average of $88.70. The company has a market capitalization of $163.04 billion, a PE ratio of 19.72, a P/E/G ratio of 1.48 and a beta of 0.83. The company has a quick ratio of 0.70, a current ratio of 0.86 and a debt-to-equity ratio of 5.57. AbbVie Inc has a 1 year low of $62.55 and a 1 year high of $101.28.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 31st. The company reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.14. The business had revenue of $10.43 billion for the quarter, compared to the consensus estimate of $10.14 billion. AbbVie had a net margin of 19.20% and a negative return on equity of 628.57%. The firm’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same period last year, the firm posted $2.26 earnings per share. As a group, equities analysts expect that AbbVie Inc will post 10.46 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be given a $1.18 dividend. This represents a $4.72 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend is Tuesday, July 14th. AbbVie’s dividend payout ratio (DPR) is currently 52.80%.

Several equities analysts have commented on ABBV shares. Mizuho raised their target price on shares of AbbVie from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Royal Bank of Canada raised their target price on shares of AbbVie from $125.00 to $127.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating and raised their target price for the company from $91.40 to $115.00 in a research note on Tuesday, June 2nd. Atlantic Securities raised shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $115.00 price objective on the stock in a research note on Tuesday, June 23rd. Finally, ValuEngine cut shares of AbbVie from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $107.00.

In related news, Vice Chairman Carlos Alban sold 53,325 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $100.00, for a total transaction of $5,332,500.00. Following the completion of the sale, the insider now directly owns 137,899 shares in the company, valued at $13,789,900. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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