Trustco Bank Corp N Y Sells 250 Shares of AbbVie Inc. (NYSE:ABBV)

Trustco Bank Corp N Y cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% in the first quarter, HoldingsChannel reports. The fund owned 28,997 shares of the company’s stock after selling 250 shares during the period. AbbVie makes up approximately 2.6% of Trustco Bank Corp N Y’s holdings, making the stock its 11th largest holding. Trustco Bank Corp N Y’s holdings in AbbVie were worth $3,138,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ABBV. Godsey & Gibb Associates purchased a new position in AbbVie in the 1st quarter worth approximately $160,000. RMR Wealth Builders lifted its holdings in AbbVie by 693.0% in the 1st quarter. RMR Wealth Builders now owns 10,357 shares of the company’s stock worth $1,121,000 after purchasing an additional 9,051 shares in the last quarter. Elmwood Wealth Management Inc. purchased a new position in AbbVie in the 1st quarter worth approximately $209,000. Mutual of America Capital Management LLC lifted its holdings in AbbVie by 1.8% in the 1st quarter. Mutual of America Capital Management LLC now owns 249,648 shares of the company’s stock worth $27,017,000 after purchasing an additional 4,488 shares in the last quarter. Finally, PARK CIRCLE Co lifted its holdings in AbbVie by 53.0% in the 1st quarter. PARK CIRCLE Co now owns 51,950 shares of the company’s stock worth $5,622,000 after purchasing an additional 18,000 shares in the last quarter. Institutional investors own 66.07% of the company’s stock.

Several brokerages have recently issued reports on ABBV. SVB Leerink upped their price objective on AbbVie from $140.00 to $144.00 and gave the stock an “outperform” rating in a report on Tuesday, March 30th. Royal Bank of Canada began coverage on AbbVie in a report on Wednesday, April 7th. They set a $135.00 price objective on the stock. Mizuho upped their price objective on AbbVie from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, May 3rd. BMO Capital Markets upped their price objective on AbbVie from $127.00 to $129.00 and gave the stock an “outperform” rating in a report on Monday, May 3rd. Finally, Piper Sandler upped their price objective on AbbVie from $120.00 to $124.00 and gave the stock an “overweight” rating in a report on Friday, April 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $119.85.

NYSE:ABBV traded down $0.53 during midday trading on Wednesday, hitting $114.17. 105,885 shares of the company traded hands, compared to its average volume of 7,037,626. The firm has a fifty day moving average price of $113.47. AbbVie Inc. has a 12-month low of $79.11 and a 12-month high of $118.28. The stock has a market cap of $201.65 billion, a price-to-earnings ratio of 40.52, a P/E/G ratio of 1.70 and a beta of 0.83. The company has a debt-to-equity ratio of 5.40, a current ratio of 0.83 and a quick ratio of 0.73.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, April 29th. The company reported $2.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $0.12. The company had revenue of $13.01 billion for the quarter, compared to the consensus estimate of $12.84 billion. AbbVie had a return on equity of 136.75% and a net margin of 10.28%. AbbVie’s quarterly revenue was up 50.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.42 EPS. On average, analysts anticipate that AbbVie Inc. will post 12.6 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 16th. Shareholders of record on Thursday, July 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend is Wednesday, July 14th. AbbVie’s dividend payout ratio (DPR) is presently 49.24%.

In other AbbVie news, SVP Carrie C. Strom sold 4,184 shares of the company’s stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $112.40, for a total value of $470,281.60. Following the transaction, the senior vice president now owns 63,409 shares of the company’s stock, valued at approximately $7,127,171.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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