St. Louis Trust Co Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

St. Louis Trust Co lifted its position in AbbVie Inc. (NYSE:ABBVFree Report) by 16.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,278 shares of the company’s stock after purchasing an additional 1,189 shares during the quarter. St. Louis Trust Co’s holdings in AbbVie were worth $1,507,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Lokken Investment Group LLC grew its holdings in shares of AbbVie by 3.6% during the fourth quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock worth $258,000 after buying an additional 58 shares in the last quarter. Arcadia Investment Management Corp MI boosted its position in AbbVie by 0.6% during the first quarter. Arcadia Investment Management Corp MI now owns 9,371 shares of the company’s stock worth $1,706,000 after acquiring an additional 59 shares during the last quarter. Aspen Wealth Strategies LLC raised its holdings in AbbVie by 0.5% in the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after acquiring an additional 61 shares during the last quarter. Marks Group Wealth Management Inc boosted its holdings in shares of AbbVie by 2.9% during the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after purchasing an additional 63 shares during the last quarter. Finally, Spinnaker Investment Group LLC grew its position in shares of AbbVie by 1.6% in the first quarter. Spinnaker Investment Group LLC now owns 4,068 shares of the company’s stock valued at $741,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV stock traded down $0.37 on Monday, reaching $166.88. 753,967 shares of the company’s stock were exchanged, compared to its average volume of 5,622,252. AbbVie Inc. has a twelve month low of $132.70 and a twelve month high of $182.89. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The stock has a fifty day moving average of $164.58 and a 200-day moving average of $168.08. The firm has a market cap of $294.69 billion, a PE ratio of 49.66, a P/E/G ratio of 2.14 and a beta of 0.64.

AbbVie (NYSE:ABBVGet Free Report) last issued its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. AbbVie’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.46 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 10.71 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Monday, July 15th. AbbVie’s payout ratio is currently 183.98%.

Analyst Ratings Changes

Several research firms recently issued reports on ABBV. Piper Sandler restated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research report on Tuesday, July 2nd. BMO Capital Markets cut their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research report on Thursday, June 20th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research note on Wednesday, July 3rd. Finally, Barclays reduced their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $181.07.

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AbbVie Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Beh├žet'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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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