Equitable Trust Co. Has $6.67 Million Position in AbbVie Inc. $ABBV

Equitable Trust Co. boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 0.5% during the second quarter, Holdings Channel reports. The fund owned 35,939 shares of the company’s stock after purchasing an additional 193 shares during the period. Equitable Trust Co.’s holdings in AbbVie were worth $6,671,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of ABBV. TD Capital Management LLC boosted its position in shares of AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares during the period. Marshall & Sullivan Inc. WA bought a new position in shares of AbbVie during the second quarter worth approximately $25,000. Abound Financial LLC acquired a new stake in shares of AbbVie in the first quarter valued at approximately $30,000. Cypress Capital Management LLC WY bought a new stake in shares of AbbVie in the first quarter valued at approximately $35,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of AbbVie in the first quarter valued at approximately $42,000. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Down 0.1%

ABBV stock opened at $230.36 on Tuesday. The firm has a 50-day moving average price of $215.50 and a 200-day moving average price of $196.89. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $244.81. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The stock has a market capitalization of $406.94 billion, a P/E ratio of 109.70, a price-to-earnings-growth ratio of 1.42 and a beta of 0.51.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.AbbVie’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.65 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup reaffirmed a “neutral” rating on shares of AbbVie in a report on Monday. Morgan Stanley raised their price target on AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Daiwa America raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Hsbc Global Res downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Finally, Raymond James Financial restated an “outperform” rating on shares of AbbVie in a research report on Monday, August 25th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $231.90.

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, the executive vice president owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The transaction 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 stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of the transaction, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. This trade represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

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.