First Bank & Trust Has $3.43 Million Stake in AbbVie Inc. (NYSE:ABBV)

First Bank & Trust grew its stake in AbbVie Inc. (NYSE:ABBV) by 3.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,806 shares of the company’s stock after purchasing an additional 681 shares during the period. AbbVie comprises approximately 0.7% of First Bank & Trust’s investment portfolio, making the stock its 29th largest position. First Bank & Trust’s holdings in AbbVie were worth $3,425,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Grimes & Company Inc. increased its holdings in AbbVie by 0.9% in the 1st quarter. Grimes & Company Inc. now owns 100,241 shares of the company’s stock worth $18,254,000 after purchasing an additional 880 shares in the last quarter. WoodTrust Financial Corp acquired a new position in shares of AbbVie in the first quarter valued at approximately $526,000. Burns J W & Co. Inc. NY raised its holdings in AbbVie by 1.7% in the 1st quarter. Burns J W & Co. Inc. NY now owns 32,523 shares of the company’s stock valued at $5,922,000 after buying an additional 545 shares during the last quarter. Trifecta Capital Advisors LLC boosted its position in AbbVie by 1,158.9% during the 1st quarter. Trifecta Capital Advisors LLC now owns 28,765 shares of the company’s stock worth $5,238,000 after buying an additional 26,480 shares during the period. Finally, Occidental Asset Management LLC grew its holdings in AbbVie by 14.5% during the 1st quarter. Occidental Asset Management LLC now owns 7,336 shares of the company’s stock worth $1,336,000 after acquiring an additional 927 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays decreased their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Piper Sandler boosted their price target on shares of AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. BMO Capital Markets decreased their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Wednesday, June 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a report on Thursday, June 20th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $179.64.

AbbVie Stock Performance

Shares of ABBV stock traded up $2.53 during trading on Friday, hitting $171.52. The company’s stock had a trading volume of 24,463,599 shares, compared to its average volume of 5,432,583. The business has a fifty day moving average of $164.60 and a 200-day moving average of $167.54. The company has a market cap of $302.88 billion, a PE ratio of 50.90, a P/E/G ratio of 2.16 and a beta of 0.60. AbbVie Inc. has a 52 week low of $132.13 and a 52 week high of $182.89. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.46 earnings per share. As a group, research analysts anticipate that AbbVie Inc. will post 11.27 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.61%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

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.