AbbVie Inc. (NYSE:ABBV) Shares Sold by Community Bank & Trust Waco Texas

Community Bank & Trust Waco Texas reduced its stake in AbbVie Inc. (NYSE:ABBV) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,088 shares of the company’s stock after selling 1,537 shares during the period. AbbVie accounts for about 1.5% of Community Bank & Trust Waco Texas’ investment portfolio, making the stock its 23rd biggest holding. Community Bank & Trust Waco Texas’ holdings in AbbVie were worth $5,438,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Bell Private Wealth Management LLC grew its holdings in shares of AbbVie by 39.5% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after acquiring an additional 81 shares in the last quarter. Horrell Capital Management Inc. acquired a new position in AbbVie during the 3rd quarter worth $45,000. Core Wealth Advisors Inc. lifted its position in AbbVie by 459.7% during the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after acquiring an additional 285 shares during the last quarter. Bourgeon Capital Management LLC raised its position in shares of AbbVie by 240.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after buying an additional 240 shares during the last quarter. Finally, Naples Money Management LLC acquired a new position in shares of AbbVie during the fourth quarter valued at about $53,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ABBV. BMO Capital Markets increased their price target on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Barclays increased their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Raymond James lifted their price target 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. Finally, Truist Financial lifted their price target 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. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $177.43.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the sale, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares in the company, valued at approximately $10,895,641.39. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock worth $67,780,003 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.7 %

NYSE ABBV traded down $1.17 on Wednesday, hitting $168.37. 855,355 shares of the company were exchanged, compared to its average volume of 5,554,408. The company has a market cap of $298.12 billion, a PE ratio of 61.57, a PEG ratio of 2.16 and a beta of 0.58. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The stock has a fifty day moving average of $175.26 and a 200-day moving average of $160.57. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The business had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter last year, the company posted $3.60 earnings per share. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. As a group, analysts forecast that AbbVie Inc. will post 11.16 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.68%. AbbVie’s payout ratio is 227.11%.

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.