Bank of Stockton Sells 987 Shares of AbbVie Inc. (NYSE:ABBV)

Bank of Stockton cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 17.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,827 shares of the company’s stock after selling 987 shares during the quarter. Bank of Stockton’s holdings in AbbVie were worth $858,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Groupama Asset Managment boosted its position in AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in AbbVie during the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie during the fourth quarter valued at approximately $29,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie during the fourth quarter valued at approximately $35,000. Finally, Mizuho Securities Co. Ltd. boosted its position in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

AbbVie stock opened at $200.98 on Friday. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The stock’s fifty day moving average price is $180.68 and its two-hundred day moving average price is $186.29. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm has a market cap of $354.80 billion, a PE ratio of 83.74, a price-to-earnings-growth ratio of 1.56 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period in the prior year, the business posted $2.79 earnings per share. As a group, research analysts expect that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.26%. AbbVie’s payout ratio is 273.33%.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of several recent research reports. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Piper Sandler raised their price objective on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research report on Friday, November 22nd. Finally, Wells Fargo & Company raised their price objective on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

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.