Plimoth Trust Co. LLC Sells 1,081 Shares of AbbVie Inc. (NYSE:ABBV)

Plimoth Trust Co. LLC reduced its stake in AbbVie Inc. (NYSE:ABBV) by 5.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,560 shares of the company’s stock after selling 1,081 shares during the period. Plimoth Trust Co. LLC’s holdings in AbbVie were worth $4,060,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. City Holding Co. lifted its stake in AbbVie by 1.1% in the first quarter. City Holding Co. now owns 40,334 shares of the company’s stock worth $7,345,000 after acquiring an additional 438 shares during the period. High Net Worth Advisory Group LLC lifted its position in shares of AbbVie by 5.9% in the 1st quarter. High Net Worth Advisory Group LLC now owns 46,573 shares of the company’s stock worth $8,481,000 after purchasing an additional 2,600 shares during the period. Anderson Hoagland & Co. boosted its stake in shares of AbbVie by 8.9% during the 1st quarter. Anderson Hoagland & Co. now owns 2,651 shares of the company’s stock valued at $448,000 after purchasing an additional 217 shares in the last quarter. True North Advisors LLC increased its position in shares of AbbVie by 1.8% during the first quarter. True North Advisors LLC now owns 6,629 shares of the company’s stock valued at $1,207,000 after buying an additional 118 shares during the period. Finally, Cherrydale Wealth Management LLC bought a new position in AbbVie in the first quarter worth about $261,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

ABBV traded down $2.32 during trading on Monday, hitting $186.54. The company’s stock had a trading volume of 4,312,051 shares, compared to its average volume of 5,296,438. The business’s 50 day simple moving average is $194.44 and its 200-day simple moving average is $177.74. The firm has a market cap of $329.41 billion, a PE ratio of 55.78, a P/E/G ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51.

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

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.32%. AbbVie’s payout ratio is currently 183.98%.

Insider Transactions at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the sale, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the topic of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research report on Monday, August 5th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a research note on Wednesday, July 3rd. Sanford C. Bernstein initiated coverage on shares of AbbVie in a report on Thursday. They set a “market perform” rating and a $203.00 target price for the company. Bank of America upped their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Wells Fargo & Company boosted their price objective on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $198.47.

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.