AbbVie Inc. (NYSE:ABBV) Shares Acquired by Sentinel Trust Co. LBA

Sentinel Trust Co. LBA grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.9% in the 4th quarter, HoldingsChannel reports. The firm owned 16,144 shares of the company’s stock after acquiring an additional 601 shares during the quarter. Sentinel Trust Co. LBA’s holdings in AbbVie were worth $2,869,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ABBV. Groupama Asset Managment grew its position in AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of AbbVie in the third quarter worth $28,000. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie in the fourth quarter worth $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of AbbVie during the fourth quarter valued at $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in AbbVie during the fourth quarter valued at $35,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research reports. UBS Group raised their price objective on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Citigroup raised their price target on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Finally, Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Up 1.0 %

Shares of ABBV stock opened at $205.06 on Friday. The stock’s 50 day simple moving average is $183.75 and its 200 day simple moving average is $186.85. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The company has a market capitalization of $362.00 billion, a price-to-earnings ratio of 85.44, a PEG ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the prior year, the business posted $2.79 earnings per share. As a group, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 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.