Ledyard National Bank decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 3.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,314 shares of the company’s stock after selling 555 shares during the quarter. Ledyard National Bank’s holdings in AbbVie were worth $2,759,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. Goepper Burkhardt LLC raised its position in shares of AbbVie by 1.9% during the 4th quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock valued at $567,000 after buying an additional 67 shares in the last quarter. Naviter Wealth LLC lifted its holdings in shares of AbbVie by 0.9% in the 1st quarter. Naviter Wealth LLC now owns 7,378 shares of the company’s stock worth $1,176,000 after acquiring an additional 68 shares during the last quarter. Sax Wealth Advisors LLC boosted its stake in shares of AbbVie by 0.9% during the 4th quarter. Sax Wealth Advisors LLC now owns 7,633 shares of the company’s stock worth $1,233,000 after purchasing an additional 70 shares during the period. 1900 Wealth Management LLC grew its holdings in AbbVie by 2.8% during the 4th quarter. 1900 Wealth Management LLC now owns 2,631 shares of the company’s stock valued at $425,000 after purchasing an additional 71 shares during the last quarter. Finally, Headinvest LLC raised its holdings in shares of AbbVie by 0.5% in the third quarter. Headinvest LLC now owns 14,412 shares of the company’s stock worth $1,934,000 after buying an additional 73 shares during the period. 68.27% of the stock is currently owned by institutional investors and hedge funds.
AbbVie Stock Performance
NYSE ABBV opened at $134.49 on Tuesday. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.82 and a current ratio of 0.96. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $168.11. The stock’s fifty day moving average is $139.61 and its two-hundred day moving average is $149.76. The firm has a market capitalization of $237.28 billion, a P/E ratio of 31.79, a price-to-earnings-growth ratio of 2.48 and a beta of 0.56.
AbbVie Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Thursday, July 13th. AbbVie’s dividend payout ratio is presently 139.95%.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on ABBV shares. Morgan Stanley boosted their target price on shares of AbbVie from $178.00 to $181.00 and gave the company an “overweight” rating in a research note on Monday, April 10th. Guggenheim dropped their price objective on AbbVie from $172.00 to $171.00 in a research note on Friday, April 28th. Barclays increased their target price on AbbVie from $155.00 to $160.00 in a research report on Wednesday, April 12th. Argus lowered AbbVie from a “buy” rating to a “hold” rating in a research report on Wednesday, April 5th. Finally, Wells Fargo & Company lowered their price target on AbbVie from $200.00 to $195.00 in a research report on Friday, April 28th. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $163.40.
Insider Transactions at AbbVie
In other AbbVie news, SVP Elaine K. Sorg sold 6,130 shares of the business’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $165.00, for a total value of $1,011,450.00. Following the transaction, the senior vice president now directly owns 35,330 shares of the company’s stock, valued at approximately $5,829,450. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Elaine K. Sorg sold 6,130 shares of the stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $1,011,450.00. Following the completion of the transaction, the senior vice president now directly owns 35,330 shares of the company’s stock, valued at approximately $5,829,450. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Elaine K. Sorg sold 7,499 shares of AbbVie stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $161.67, for a total value of $1,212,363.33. Following the completion of the sale, the senior vice president now owns 35,330 shares in the company, valued at $5,711,801.10. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.
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