Town & Country Bank & Trust CO dba First Bankers Trust CO Reduces Position in AbbVie Inc. (NYSE:ABBV)

Town & Country Bank & Trust CO dba First Bankers Trust CO cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 23,201 shares of the company’s stock after selling 573 shares during the quarter. AbbVie accounts for about 1.8% of Town & Country Bank & Trust CO dba First Bankers Trust CO’s investment portfolio, making the stock its 14th biggest holding. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in AbbVie were worth $4,582,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Firethorn Wealth Partners LLC boosted its holdings in AbbVie by 6.7% in the third quarter. Firethorn Wealth Partners LLC now owns 2,832 shares of the company’s stock valued at $559,000 after purchasing an additional 177 shares during the last quarter. Wolff Wiese Magana LLC boosted its holdings in AbbVie by 4.1% in the third quarter. Wolff Wiese Magana LLC now owns 16,347 shares of the company’s stock valued at $3,228,000 after purchasing an additional 646 shares during the last quarter. BOS Asset Management LLC purchased a new stake in AbbVie in the third quarter valued at $205,000. Transform Wealth LLC boosted its holdings in AbbVie by 1.4% in the third quarter. Transform Wealth LLC now owns 87,306 shares of the company’s stock valued at $17,241,000 after purchasing an additional 1,166 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in shares of AbbVie by 1.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 134,678 shares of the company’s stock worth $26,596,000 after acquiring an additional 2,087 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Morgan Stanley increased their target price on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Truist Financial increased their target price on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. UBS Group raised their price target on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. TD Cowen raised their price target on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, Wells Fargo & Company raised their price target on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.00.

AbbVie Trading Down 0.7 %

ABBV opened at $190.46 on Thursday. The firm has a market capitalization of $336.33 billion, a price-to-earnings ratio of 56.52, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The company’s 50 day simple moving average is $194.50 and its two-hundred day simple moving average is $177.63. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $199.95.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.57 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.91 EPS. Analysts expect that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.26%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Insider Activity at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by insiders.

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.