Dubuque Bank & Trust Co. Cuts Position in AbbVie Inc. (NYSE:ABBV)

Dubuque Bank & Trust Co. trimmed its holdings in AbbVie Inc. (NYSE:ABBVGet Rating) by 3.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 50,508 shares of the company’s stock after selling 1,831 shares during the period. Dubuque Bank & Trust Co.’s holdings in AbbVie were worth $7,736,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Intelligent Financial Strategies acquired a new stake in AbbVie in the 4th quarter valued at about $27,000. GoalVest Advisory LLC acquired a new stake in AbbVie in the 1st quarter valued at about $33,000. Joseph P. Lucia & Associates LLC acquired a new stake in AbbVie in the 1st quarter valued at about $34,000. Cordant Inc. acquired a new stake in AbbVie in the 1st quarter valued at about $42,000. Finally, Monumental Financial Group Inc. acquired a new stake in shares of AbbVie during the 1st quarter worth about $52,000. 68.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ABBV shares. Barclays decreased their price target on shares of AbbVie to $160.00 in a research note on Tuesday, August 9th. UBS Group decreased their price target on shares of AbbVie from $154.00 to $146.00 and set a “neutral” rating on the stock in a research note on Monday, August 1st. Atlantic Securities decreased their price target on shares of AbbVie from $178.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, August 1st. Morgan Stanley decreased their price target on shares of AbbVie from $191.00 to $188.00 and set an “overweight” rating on the stock in a research note on Monday, August 1st. Finally, Piper Sandler decreased their price target on shares of AbbVie from $160.00 to $155.00 in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $159.35.

AbbVie Trading Up 1.9 %

NYSE ABBV opened at $143.01 on Friday. AbbVie Inc. has a one year low of $106.44 and a one year high of $175.91. The company’s 50 day moving average price is $141.99 and its 200 day moving average price is $149.56. The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.75 and a current ratio of 0.84. The firm has a market capitalization of $252.86 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 3.98 and a beta of 0.72.

AbbVie (NYSE:ABBVGet Rating) last posted its quarterly earnings results on Friday, July 29th. The company reported $3.51 EPS for the quarter, beating the consensus estimate of $3.42 by $0.09. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. The firm had revenue of $14.58 billion for the quarter, compared to analyst estimates of $14.64 billion. During the same quarter last year, the firm posted $3.11 earnings per share. AbbVie’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, sell-side analysts predict that AbbVie Inc. will post 14.05 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be issued a $1.41 dividend. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $5.64 annualized dividend and a yield of 3.94%. AbbVie’s payout ratio is 79.89%.

AbbVie Company Profile

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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), and 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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