Farmers & Merchants Trust Co of Chambersburg PA Sells 592 Shares of AbbVie Inc. $ABBV

Farmers & Merchants Trust Co of Chambersburg PA trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.1% during the second quarter, HoldingsChannel reports. The firm owned 18,653 shares of the company’s stock after selling 592 shares during the quarter. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in AbbVie were worth $3,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. TD Capital Management LLC raised its stake in shares of AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Abound Financial LLC bought a new stake in shares of AbbVie during the 1st quarter worth $30,000. Siemens Fonds Invest GmbH raised its stake in shares of AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after purchasing an additional 119,141 shares during the period. Cypress Capital Management LLC WY bought a new stake in shares of AbbVie during the 1st quarter worth $35,000. Finally, Pinney & Scofield Inc. bought a new stake in shares of AbbVie during the 4th quarter worth $36,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

NYSE:ABBV opened at $220.16 on Thursday. The business has a 50 day moving average of $201.98 and a 200 day moving average of $194.84. The company has a market capitalization of $388.93 billion, a price-to-earnings ratio of 104.84, a PEG ratio of 1.39 and a beta of 0.53. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $221.76. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61.

AbbVie (NYSE:ABBV) last released its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.65 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be given a $1.64 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.0%. AbbVie’s payout ratio is presently 312.38%.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the sale, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the sale, the executive vice president owned 177,292 shares of the company’s stock, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ABBV shares. Bank of America lifted their price objective on AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. BMO Capital Markets lifted their price objective on AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. JPMorgan Chase & Co. lifted their price objective on AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday. Piper Sandler started coverage on AbbVie in a report on Tuesday, August 12th. They issued an “overweight” rating and a $231.00 price objective for the company. Finally, Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $222.68.

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.