Pinnacle Bancorp Inc. Has $2.31 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Pinnacle Bancorp Inc. cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,981 shares of the company’s stock after selling 115 shares during the period. AbbVie accounts for approximately 0.8% of Pinnacle Bancorp Inc.’s holdings, making the stock its 27th biggest holding. Pinnacle Bancorp Inc.’s holdings in AbbVie were worth $2,307,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC lifted its stake in AbbVie by 1,745.0% in the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after buying an additional 4,471,806 shares during the period. State Street Corp grew its position in shares of AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after buying an additional 1,267,685 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of AbbVie by 59.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company’s stock valued at $414,088,000 after acquiring an additional 781,858 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of AbbVie by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after acquiring an additional 582,953 shares during the period. Finally, Saturna Capital Corp boosted its stake in AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after acquiring an additional 560,808 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Guggenheim upped their target price on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Wolfe Research began coverage on shares of AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. UBS Group lifted their target price on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Citigroup lowered their price target on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, Barclays lifted their price objective on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie Stock Performance

NYSE ABBV opened at $171.32 on Thursday. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The stock has a market cap of $302.75 billion, a PE ratio of 59.49, a P/E/G ratio of 1.92 and a beta of 0.58. The firm has a 50-day moving average of $177.47 and a 200-day moving average of $184.63. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.95 earnings per share. On average, sell-side analysts anticipate that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.83%. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.25% of the company’s stock.

AbbVie 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.