Farmers National Bank Sells 94 Shares of AbbVie Inc. (NYSE:ABBV)

Farmers National Bank trimmed its position in AbbVie Inc. (NYSE:ABBV) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,726 shares of the company’s stock after selling 94 shares during the period. Farmers National Bank’s holdings in AbbVie were worth $982,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital International Sarl lifted its stake in AbbVie by 2.9% in the fourth quarter. Capital International Sarl now owns 30,222 shares of the company’s stock valued at $4,684,000 after buying an additional 863 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in AbbVie by 234.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 245,514 shares of the company’s stock valued at $38,047,000 after acquiring an additional 172,192 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in AbbVie by 1.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 95,142 shares of the company’s stock worth $14,745,000 after purchasing an additional 1,738 shares during the period. Bedell Frazier Investment Counselling LLC increased its holdings in AbbVie by 4.9% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 70,699 shares of the company’s stock worth $10,956,000 after purchasing an additional 3,321 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of AbbVie by 1.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 155,252 shares of the company’s stock valued at $24,059,000 after purchasing an additional 2,727 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

ABBV opened at $196.91 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The stock has a market cap of $347.72 billion, a price-to-earnings ratio of 58.43, a PEG ratio of 2.65 and a beta of 0.64. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $199.95. The business has a 50 day moving average of $192.49 and a 200-day moving average of $176.47.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.57 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.91 earnings per share. On average, equities research analysts expect that AbbVie Inc. will post 10.86 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.15%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. BMO Capital Markets lifted their target price on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Truist Financial reiterated a “buy” rating and issued a $210.00 price objective (up from $195.00) on shares of AbbVie in a report on Friday, July 26th. Piper Sandler Companies restated an “overweight” rating and set a $190.00 target price on shares of AbbVie in a report on Wednesday, July 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research note on Monday, August 5th. Finally, Morgan Stanley increased their price objective on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $191.64.

Insider Transactions at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now directly owns 513,099 shares in the company, valued at $89,792,325. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

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.