AbbVie Inc. (NYSE:ABBV) Shares Acquired by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,242 shares of the company’s stock after buying an additional 217 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in AbbVie were worth $754,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Lake Street Private Wealth LLC boosted its stake in AbbVie by 11.5% during the fourth quarter. Lake Street Private Wealth LLC now owns 32,110 shares of the company’s stock valued at $5,706,000 after buying an additional 3,320 shares in the last quarter. B & T Capital Management DBA Alpha Capital Management boosted its position in shares of AbbVie by 1.5% during the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 27,641 shares of the company’s stock valued at $4,912,000 after purchasing an additional 419 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie in the 4th quarter worth approximately $35,000. Brooklyn Investment Group raised its holdings in shares of AbbVie by 29.6% in the 4th quarter. Brooklyn Investment Group now owns 15,338 shares of the company’s stock worth $2,725,000 after purchasing an additional 3,502 shares in the last quarter. Finally, Whitener Capital Management Inc. lifted its stake in AbbVie by 0.8% during the fourth quarter. Whitener Capital Management Inc. now owns 38,266 shares of the company’s stock valued at $6,800,000 after purchasing an additional 309 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Price Performance

NYSE ABBV opened at $171.49 on Friday. The stock has a market capitalization of $303.05 billion, a PE ratio of 59.55, a price-to-earnings-growth ratio of 1.73 and a beta of 0.58. The company has a 50 day moving average price of $175.78 and a two-hundred day moving average price of $184.60. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period last year, the business earned $2.95 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Morgan Stanley dropped their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Bank of America reaffirmed a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Truist Financial decreased their price target on AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Piper Sandler lifted their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, BMO Capital Markets reduced their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $205.50.

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.