Capital City Trust Co. FL Grows Stake in AbbVie Inc. (NYSE:ABBV)

Capital City Trust Co. FL increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 36,611 shares of the company’s stock after acquiring an additional 611 shares during the period. AbbVie accounts for 1.8% of Capital City Trust Co. FL’s holdings, making the stock its 13th biggest position. Capital City Trust Co. FL’s holdings in AbbVie were worth $7,230,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. purchased a new position in shares of AbbVie during the 1st quarter worth approximately $646,000. Quent Capital LLC increased its position in AbbVie by 3.3% during the first quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock worth $1,592,000 after buying an additional 283 shares in the last quarter. PAX Financial Group LLC acquired a new position in shares of AbbVie in the first quarter worth $217,000. Seven Eight Capital LP purchased a new stake in shares of AbbVie in the first quarter valued at $576,000. Finally, PYA Waltman Capital LLC boosted its stake in shares of AbbVie by 1.8% during the first quarter. PYA Waltman Capital LLC now owns 16,088 shares of the company’s stock valued at $2,930,000 after acquiring an additional 282 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Trading Down 2.7 %

NYSE:ABBV opened at $164.99 on Monday. The business’s 50-day moving average is $192.04 and its two-hundred day moving average is $181.04. The firm has a market capitalization of $291.56 billion, a PE ratio of 57.29, a price-to-earnings-growth ratio of 2.01 and a beta of 0.63. AbbVie Inc. has a 12 month low of $137.05 and a 12 month high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same quarter last year, the firm earned $2.95 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts predict that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.98%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

Analysts Set New Price Targets

ABBV has been the subject of several analyst reports. JPMorgan Chase & Co. cut their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Piper Sandler boosted their price objective on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. BMO Capital Markets decreased their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Truist Financial boosted their price target on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Sanford C. Bernstein began coverage on AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.89.

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.