First Bank & Trust Purchases 681 Shares of AbbVie Inc. (NYSE:ABBV)

First Bank & Trust boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,806 shares of the company’s stock after acquiring an additional 681 shares during the quarter. AbbVie accounts for approximately 0.7% of First Bank & Trust’s holdings, making the stock its 29th largest position. First Bank & Trust’s holdings in AbbVie were worth $3,425,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ABBV. Vermillion & White Wealth Management Group LLC bought a new stake in AbbVie during the 4th quarter worth approximately $26,000. Able Wealth Management LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $33,000. IFS Advisors LLC purchased a new position in shares of AbbVie during the 1st quarter valued at $36,000. Ables Iannone Moore & Associates Inc. bought a new position in AbbVie in the 4th quarter worth $37,000. Finally, Clarity Asset Management Inc. purchased a new stake in AbbVie in the 4th quarter worth $42,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Trading Up 1.5 %

Shares of NYSE:ABBV traded up $2.53 during trading on Friday, reaching $171.52. The company’s stock had a trading volume of 24,463,599 shares, compared to its average volume of 5,432,583. The firm’s 50 day simple moving average is $164.60 and its two-hundred day simple moving average is $167.54. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 12 month low of $132.13 and a 12 month high of $182.89. The stock has a market capitalization of $302.88 billion, a PE ratio of 50.90, a price-to-earnings-growth ratio of 2.16 and a beta of 0.60.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the previous year, the business earned $2.46 EPS. The company’s quarterly revenue was up .7% on a year-over-year basis. On average, research analysts predict that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio is currently 183.98%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ABBV shares. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research report on Wednesday, June 5th. BMO Capital Markets cut their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Guggenheim boosted their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Piper Sandler raised their target price on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research note on Thursday, June 20th. 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 stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.64.

AbbVie Company 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.