First Financial Bank Trust Division Has $4.96 Million Position in AbbVie Inc. (NYSE:ABBV)

First Financial Bank Trust Division cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 25,093 shares of the company’s stock after selling 986 shares during the quarter. First Financial Bank Trust Division’s holdings in AbbVie were worth $4,955,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Neville Rodie & Shaw Inc. raised its stake in AbbVie by 5.4% in the third quarter. Neville Rodie & Shaw Inc. now owns 100,915 shares of the company’s stock valued at $19,929,000 after buying an additional 5,172 shares during the period. Mattson Financial Services LLC bought a new position in shares of AbbVie during the second quarter worth approximately $1,158,000. Anchor Investment Management LLC increased its stake in AbbVie by 0.8% during the 2nd quarter. Anchor Investment Management LLC now owns 86,189 shares of the company’s stock worth $14,783,000 after acquiring an additional 691 shares during the period. Verity & Verity LLC increased its stake in AbbVie by 2.0% during the 2nd quarter. Verity & Verity LLC now owns 154,069 shares of the company’s stock worth $26,426,000 after acquiring an additional 3,090 shares during the period. Finally, Cannon Financial Strategists Inc. bought a new position in AbbVie during the 2nd quarter worth $704,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Down 0.1 %

Shares of NYSE ABBV opened at $196.74 on Thursday. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The stock has a market capitalization of $347.42 billion, a P/E ratio of 58.38, a P/E/G ratio of 2.65 and a beta of 0.64. The company has a 50-day moving average price of $192.90 and a 200-day moving average price of $176.61. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.91 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio is 183.98%.

Insiders Place Their Bets

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction that occurred on 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 sale, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the sale, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction 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. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Truist Financial reiterated a “buy” rating and set a $210.00 price target (up previously from $195.00) on shares of AbbVie in a report on Friday, July 26th. HSBC upgraded 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. BMO Capital Markets increased their price target on AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company boosted their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $191.64.

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.