AbbVie Inc. (NYSE:ABBV) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.4% during the third quarter, Holdings Channel reports. The firm owned 42,416 shares of the company’s stock after selling 624 shares during the period. First Citizens Bank & Trust Co.’s holdings in AbbVie were worth $8,376,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ABBV. Fairway Wealth LLC acquired a new stake in AbbVie during the 2nd quarter worth $26,000. Ridgewood Investments LLC acquired a new stake in shares of AbbVie during the second quarter worth about $27,000. Quest Partners LLC lifted its holdings in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new stake in shares of AbbVie in the 1st quarter valued at about $37,000. Finally, Marquette Asset Management LLC purchased a new position in AbbVie during the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ABBV shares. Sanford C. Bernstein assumed coverage on AbbVie in a research note on Thursday. They issued a “market perform” rating and a $203.00 price objective for the company. UBS Group upped their price target on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. BMO Capital Markets increased their price target on shares of AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday. Piper Sandler Companies restated an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research note on Wednesday, July 3rd. Finally, William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $198.47.

AbbVie Stock Performance

Shares of ABBV stock opened at $188.87 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The stock has a 50 day simple moving average of $194.44 and a 200-day simple moving average of $177.76. The company has a market cap of $333.52 billion, a price-to-earnings ratio of 56.04, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $199.95.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same quarter in the prior year, the company posted $2.91 earnings per share. AbbVie’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities analysts forecast that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

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.