Trust Co. of Toledo NA OH Buys 89 Shares of AbbVie Inc. $ABBV

Trust Co. of Toledo NA OH boosted its stake in AbbVie Inc. (NYSE:ABBV) by 0.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 42,549 shares of the company’s stock after buying an additional 89 shares during the period. AbbVie makes up 0.9% of Trust Co. of Toledo NA OH’s portfolio, making the stock its 25th largest holding. Trust Co. of Toledo NA OH’s holdings in AbbVie were worth $7,898,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in AbbVie by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company’s stock worth $36,439,271,000 after buying an additional 845,787 shares during the period. Northern Trust Corp grew its stake in shares of AbbVie by 0.9% in the first quarter. Northern Trust Corp now owns 22,013,920 shares of the company’s stock valued at $4,612,357,000 after acquiring an additional 189,294 shares in the last quarter. Goldman Sachs Group Inc. increased its position in AbbVie by 31.6% during the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock worth $3,068,820,000 after acquiring an additional 3,519,187 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in AbbVie by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,771,854 shares of the company’s stock worth $2,675,959,000 after purchasing an additional 713,148 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in AbbVie by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,413,033 shares of the company’s stock valued at $1,972,050,000 after purchasing an additional 45,871 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABBV has been the topic of several recent research reports. Daiwa America raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Cantor Fitzgerald set a $250.00 price objective on AbbVie and gave the stock an “overweight” rating in a research note on Thursday. Daiwa Capital Markets upgraded AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 target price for the company in a research report on Thursday, August 7th. BMO Capital Markets increased their target price on AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. Finally, Bank of America raised their target price on shares of AbbVie from $220.00 to $251.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $231.90.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $230.88 on Friday. The company’s 50-day moving average is $214.84 and its 200 day moving average is $196.79. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The company has a market capitalization of $407.86 billion, a P/E ratio of 109.94, a price-to-earnings-growth ratio of 1.35 and a beta of 0.51. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74.

AbbVie (NYSE:ABBV) last released its quarterly 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). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $14.93 billion. During the same quarter in the previous year, the business earned $2.65 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio is 312.38%.

Insider Transactions at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’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 transaction, the executive vice president owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the sale, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This represents a 18.58% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

AbbVie 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.