Trust Co. of Toledo NA OH Has $8.40 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Trust Co. of Toledo NA OH increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,532 shares of the company’s stock after purchasing an additional 681 shares during the quarter. AbbVie makes up approximately 1.1% of Trust Co. of Toledo NA OH’s holdings, making the stock its 18th biggest holding. Trust Co. of Toledo NA OH’s holdings in AbbVie were worth $8,399,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Abacus Planning Group Inc. increased its holdings in shares of AbbVie by 50.6% during the third quarter. Abacus Planning Group Inc. now owns 2,212 shares of the company’s stock worth $437,000 after buying an additional 743 shares in the last quarter. M&R Capital Management Inc. grew its position in AbbVie by 7.5% during the 3rd quarter. M&R Capital Management Inc. now owns 16,447 shares of the company’s stock worth $3,248,000 after acquiring an additional 1,149 shares during the last quarter. Neville Rodie & Shaw Inc. increased its holdings in AbbVie by 5.4% during the 3rd quarter. Neville Rodie & Shaw Inc. now owns 100,915 shares of the company’s stock valued at $19,929,000 after purchasing an additional 5,172 shares in the last quarter. Mattson Financial Services LLC acquired a new stake in AbbVie during the 2nd quarter valued at $1,158,000. Finally, Anchor Investment Management LLC raised its position in AbbVie by 0.8% in the 2nd quarter. Anchor Investment Management LLC now owns 86,189 shares of the company’s stock valued at $14,783,000 after purchasing an additional 691 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’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 completion of the transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other AbbVie news, 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 sale, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’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 directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

AbbVie Stock Performance

Shares of ABBV stock opened at $196.74 on Thursday. The stock has a 50-day moving average of $192.90 and a 200-day moving average 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. The stock has a market cap of $347.42 billion, a PE ratio of 58.38, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter last year, the business posted $2.91 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts expect that AbbVie Inc. will post 10.86 earnings per share for the current year.

AbbVie Announces Dividend

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

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. Barclays raised their price objective on shares of AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Morgan Stanley upped their target price on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Truist Financial reissued a “buy” rating and issued a $210.00 price target (up previously from $195.00) on shares of AbbVie in a report on Friday, July 26th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average 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.