American National Bank Acquires 1,816 Shares of AbbVie Inc. (NYSE:ABBV)

American National Bank grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,208 shares of the company’s stock after purchasing an additional 1,816 shares during the quarter. AbbVie comprises about 1.5% of American National Bank’s investment portfolio, making the stock its 20th biggest position. American National Bank’s holdings in AbbVie were worth $11,146,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ABBV. Norges Bank bought a new position in AbbVie in the 4th quarter worth $3,229,888,000. International Assets Investment Management LLC bought a new position in AbbVie in the 4th quarter worth $499,955,000. Capital International Investors raised its holdings in AbbVie by 6.0% in the 4th quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after acquiring an additional 2,542,463 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in AbbVie by 39.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock worth $1,305,252,000 after acquiring an additional 2,390,239 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in AbbVie by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after purchasing an additional 1,702,415 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

NYSE ABBV opened at $170.57 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The stock has a market cap of $301.20 billion, a P/E ratio of 50.61, a PEG ratio of 2.19 and a beta of 0.60. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The company’s 50-day simple moving average is $163.89 and its 200 day simple moving average is $166.64.

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

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.63%. AbbVie’s dividend payout ratio is 183.98%.

Analysts Set New Price Targets

ABBV has been the topic of several research analyst reports. Barclays decreased their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock 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 price target on the stock in a research report on Wednesday, June 5th. Guggenheim raised their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. BMO Capital Markets decreased their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research report on Thursday. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $179.64.

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.