Cambridge Trust Co. Buys 119 Shares of AbbVie Inc. (NYSE:ABBV)

Cambridge Trust Co. increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,819 shares of the company’s stock after acquiring an additional 119 shares during the quarter. Cambridge Trust Co.’s holdings in AbbVie were worth $4,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Aspen Wealth Strategies LLC grew its position in AbbVie by 0.5% during the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after acquiring an additional 61 shares during the last quarter. Avion Wealth grew its position in AbbVie by 11.9% during the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock worth $95,000 after acquiring an additional 65 shares during the last quarter. Goepper Burkhardt LLC grew its position in AbbVie by 1.9% during the 4th quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock worth $567,000 after acquiring an additional 67 shares during the last quarter. First Bank & Trust grew its position in AbbVie by 0.4% during the 4th quarter. First Bank & Trust now owns 18,125 shares of the company’s stock worth $2,809,000 after acquiring an additional 68 shares during the last quarter. Finally, Hudock Inc. lifted its holdings in AbbVie by 2.5% in the 4th quarter. Hudock Inc. now owns 2,801 shares of the company’s stock worth $434,000 after buying an additional 68 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Activity at AbbVie

In related news, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the sale, the chief executive officer now owns 519,099 shares in the company, valued at $92,020,679.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the sale, the chief executive officer now owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is owned by insiders.

AbbVie Stock Up 0.4 %

Shares of ABBV stock traded up $0.70 during mid-day trading on Thursday, hitting $164.95. The company’s stock had a trading volume of 2,619,343 shares, compared to its average volume of 5,611,777. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The business has a 50-day moving average price of $175.79 and a 200 day moving average price of $159.94. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The stock has a market cap of $292.07 billion, a price-to-earnings ratio of 60.89, a PEG ratio of 2.09 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.03. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The firm had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter in the previous year, the business earned $3.60 earnings per share. The company’s revenue was down 5.4% on a year-over-year basis. Research analysts predict that AbbVie Inc. will post 11.17 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Truist Financial increased their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Barclays increased their price objective on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. BMO Capital Markets increased their price objective on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Finally, Raymond James increased their price objective on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $177.43.

AbbVie Company Profile

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.