First Citizens Financial Corp Raises Stock Holdings in AbbVie Inc. (NYSE:ABBV)

First Citizens Financial Corp lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,777 shares of the company’s stock after acquiring an additional 53 shares during the period. First Citizens Financial Corp’s holdings in AbbVie were worth $1,141,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ABBV. Vanguard Group Inc. boosted its position in shares of AbbVie by 6.2% in the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after acquiring an additional 9,978,415 shares during the last quarter. Capital World Investors lifted its stake in shares of AbbVie by 249.1% in the 1st quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock valued at $796,357,000 after purchasing an additional 3,120,310 shares in the last quarter. Capital International Investors grew its stake in AbbVie by 6.9% during the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after buying an additional 3,110,601 shares during the period. TD Asset Management Inc boosted its position in AbbVie by 156.0% during the 1st quarter. TD Asset Management Inc now owns 3,474,020 shares of the company’s stock worth $632,619,000 after purchasing an additional 2,116,997 shares during the period. Finally, Swedbank AB purchased a new stake in shares of AbbVie in the first quarter worth about $367,372,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction 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 completion of the transaction, the chairman now owns 513,099 shares of the company’s stock, valued at $89,792,325. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’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 value of $49,497,875.00. Following the sale, the chairman now owns 513,099 shares in the company, valued at $89,792,325. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on ABBV shares. Wells Fargo & Company boosted their target price on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. BMO Capital Markets upped their target price on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Barclays raised their price target on shares of AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Truist Financial reaffirmed a “buy” rating and issued a $210.00 price target (up from $195.00) on shares of AbbVie in a report on Friday, July 26th. Finally, Morgan Stanley raised their price objective on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Two 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 company. According to data from MarketBeat.com, AbbVie presently has an average rating of “Buy” and a consensus price target of $191.64.

AbbVie Trading Down 0.7 %

AbbVie stock opened at $195.38 on Friday. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The firm’s 50-day moving average is $193.17 and its 200-day moving average is $176.74. The company has a market cap of $345.02 billion, a P/E ratio of 57.98, a PEG ratio of 2.65 and a beta of 0.64.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The firm 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%. AbbVie’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company posted $2.91 earnings per share. On average, equities analysts expect that AbbVie Inc. will post 10.86 earnings per share 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 dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.17%. AbbVie’s payout ratio is currently 183.98%.

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.