First National Bank & Trust Co. of Newtown Sells 250 Shares of AbbVie Inc. (NYSE:ABBV)

First National Bank & Trust Co. of Newtown reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 14,855 shares of the company’s stock after selling 250 shares during the period. AbbVie comprises approximately 0.5% of First National Bank & Trust Co. of Newtown’s portfolio, making the stock its 28th biggest position. First National Bank & Trust Co. of Newtown’s holdings in AbbVie were worth $2,302,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Retirement Income Solutions Inc purchased a new position in shares of AbbVie in the 1st quarter worth approximately $204,000. Ergoteles LLC boosted its stake in shares of AbbVie by 17.8% in the 1st quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock worth $909,000 after buying an additional 847 shares during the last quarter. First Western Trust Bank purchased a new position in AbbVie in the first quarter valued at approximately $1,150,000. Wsfs Capital Management LLC purchased a new position in AbbVie in the first quarter valued at approximately $562,000. Finally, Bridgewater Associates LP lifted its stake in AbbVie by 80.4% in the first quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock valued at $12,242,000 after purchasing an additional 33,661 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the transaction, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Perry C. Siatis sold 13,753 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $177.51, for a total value of $2,441,295.03. Following the transaction, the executive vice president now directly owns 28,173 shares in the company, valued at $5,000,989.23. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock valued at $67,780,003 over the last 90 days. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Truist Financial increased their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. BMO Capital Markets increased their target price on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Barclays increased their target price on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Finally, Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $177.43.

AbbVie Price Performance

Shares of AbbVie stock traded up $1.76 during trading on Friday, hitting $166.42. The stock had a trading volume of 1,712,319 shares, compared to its average volume of 5,583,537. The firm has a market cap of $294.67 billion, a price-to-earnings ratio of 60.43, a P/E/G ratio of 2.11 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The business’s 50-day moving average is $175.59 and its 200 day moving average is $159.97.

AbbVie (NYSE:ABBV) last released 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 business had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.60 earnings per share. As a group, sell-side analysts anticipate that AbbVie Inc. will post 11.18 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.73%. AbbVie’s dividend payout ratio is presently 227.11%.

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.