Heartland Bank & Trust Co Grows Stake in AbbVie Inc. (NYSE:ABBV)

Heartland Bank & Trust Co lifted its stake in AbbVie Inc. (NYSE:ABBVFree Report) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,347 shares of the company’s stock after buying an additional 224 shares during the period. AbbVie makes up 0.7% of Heartland Bank & Trust Co’s portfolio, making the stock its 29th biggest position. Heartland Bank & Trust Co’s holdings in AbbVie were worth $984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. VitalStone Financial LLC increased its stake in AbbVie by 218.4% during the 2nd quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock worth $33,000 after buying an additional 166 shares during the period. Hibernia Wealth Partners LLC purchased a new position in AbbVie in the 3rd quarter valued at about $36,000. PCA Investment Advisory Services Inc. acquired a new stake in shares of AbbVie during the second quarter valued at about $38,000. True Wealth Design LLC purchased a new stake in shares of AbbVie during the fourth quarter worth about $39,000. Finally, Blue Bell Private Wealth Management LLC lifted its stake in shares of AbbVie by 39.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after acquiring an additional 81 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ABBV. HSBC lowered AbbVie from a “buy” rating to a “hold” rating and lowered their price objective for the company from $167.00 to $156.00 in a research note on Monday, December 18th. The Goldman Sachs Group raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price target for the company in a research report on Monday, December 11th. Truist Financial upped their price target on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Finally, Raymond James upped their target price on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $177.43.

View Our Latest Stock Report on ABBV

AbbVie Stock Performance

Shares of NYSE:ABBV traded down $1.96 during trading on Wednesday, reaching $178.73. 1,240,645 shares of the company’s stock traded hands, compared to its average volume of 5,573,209. The stock has a market capitalization of $316.47 billion, a P/E ratio of 65.56, a price-to-earnings-growth ratio of 2.30 and a beta of 0.58. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The company has a 50 day moving average of $175.80 and a 200-day moving average of $158.87. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76.

AbbVie (NYSE:ABBVGet Free Report) last issued its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. The company had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. AbbVie’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.60 earnings per share. On average, equities analysts expect that AbbVie Inc. will post 11.15 EPS for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.47%. The ex-dividend date is Friday, April 12th. AbbVie’s dividend payout ratio is presently 227.11%.

Insider Buying and Selling at AbbVie

In related news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the sale, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction on Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the sale, the executive vice president now directly owns 60,941 shares in the company, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is owned by insiders.

AbbVie Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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