First National Bank of Mount Dora Trust Investment Services Reduces Stake in AbbVie Inc. (NYSE:ABBV)

First National Bank of Mount Dora Trust Investment Services cut its holdings in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 1.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,262 shares of the company’s stock after selling 447 shares during the period. AbbVie accounts for 2.4% of First National Bank of Mount Dora Trust Investment Services’ holdings, making the stock its 8th biggest holding. First National Bank of Mount Dora Trust Investment Services’ holdings in AbbVie were worth $7,086,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Intelligent Financial Strategies purchased a new position in shares of AbbVie in the 4th quarter valued at approximately $27,000. GoalVest Advisory LLC purchased a new position in shares of AbbVie in the first quarter worth $33,000. Joseph P. Lucia & Associates LLC purchased a new position in shares of AbbVie in the first quarter worth $34,000. Cordant Inc. purchased a new position in shares of AbbVie in the first quarter worth $42,000. Finally, Monumental Financial Group Inc. purchased a new position in shares of AbbVie in the first quarter worth $52,000. 68.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ABBV shares. Barclays decreased their price target on shares of AbbVie to $160.00 in a report on Tuesday, August 9th. Morgan Stanley decreased their price target on shares of AbbVie from $191.00 to $188.00 and set an “overweight” rating for the company in a report on Monday, August 1st. Piper Sandler decreased their price target on shares of AbbVie from $160.00 to $155.00 in a report on Friday, July 29th. UBS Group decreased their price target on shares of AbbVie from $154.00 to $146.00 and set a “neutral” rating for the company in a report on Monday, August 1st. Finally, Argus decreased their price target on shares of AbbVie from $165.00 to $155.00 and set a “buy” rating for the company in a report on Wednesday, August 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $159.35.

AbbVie Stock Up 1.9 %

ABBV opened at $143.01 on Friday. The company has a fifty day moving average of $141.99 and a two-hundred day moving average of $149.56. The stock 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 Inc. has a fifty-two week low of $106.44 and a fifty-two week high of $175.91. The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.75 and a current ratio of 0.84.

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

AbbVie Announces Dividend

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

About AbbVie

(Get Rating)

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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