Amarillo National Bank Trims Position in AbbVie Inc. (NYSE:ABBV)

Amarillo National Bank trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 11.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,064 shares of the company’s stock after selling 267 shares during the period. Amarillo National Bank’s holdings in AbbVie were worth $367,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie during the third quarter worth about $28,000. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie during the fourth quarter worth about $29,000. Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie during the fourth quarter worth about $35,000. Mizuho Securities Co. Ltd. increased its stake in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of AbbVie during the third quarter worth about $39,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred 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 $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ABBV has been the topic of several recent analyst reports. Bank of America restated a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Piper Sandler Companies restated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Piper Sandler upped their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Stock Performance

Shares of ABBV opened at $193.00 on Friday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a market capitalization of $341.05 billion, a price-to-earnings ratio of 80.42, a PEG ratio of 1.53 and a beta of 0.58. The company’s 50 day simple moving average is $178.93 and its 200 day simple moving average is $186.04. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the previous year, the company posted $2.79 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 12.32 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is currently 273.33%.

About AbbVie

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.