City Holding Co. reduced its holdings in AbbVie Inc. (NYSE:ABBV – Free Report) by 1.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,097 shares of the company’s stock after selling 510 shares during the period. AbbVie makes up 1.0% of City Holding Co.’s portfolio, making the stock its 23rd largest holding. City Holding Co.’s holdings in AbbVie were worth $7,125,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. State Street Corp raised its holdings in shares of AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after buying an additional 1,267,685 shares during the period. Legal & General Group Plc boosted its stake in shares of AbbVie by 0.9% during the second quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock valued at $2,620,382,000 after purchasing an additional 134,239 shares during the period. FMR LLC grew its holdings in shares of AbbVie by 3.9% in the third quarter. FMR LLC now owns 13,630,404 shares of the company’s stock worth $2,691,732,000 after purchasing an additional 511,470 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in AbbVie by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after buying an additional 582,953 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in AbbVie by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock valued at $1,842,642,000 after buying an additional 373,802 shares during the period. 70.23% of the stock is currently owned by institutional investors.
Insider Activity
In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.25% of the company’s stock.
AbbVie Trading Down 1.3 %
AbbVie (NYSE:ABBV – Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter last year, the company posted $2.95 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current year.
AbbVie Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.83%. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on ABBV shares. Bank of America reaffirmed a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Truist Financial dropped their price target on AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. UBS Group lifted their price objective on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a report on Thursday, December 5th. Finally, Citigroup reduced their price target on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.50.
Get Our Latest Research Report on ABBV
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.
Recommended Stories
- Five stocks we like better than AbbVie
- Stock Market Sectors: What Are They and How Many Are There?
- Earn High Dividends With 2 Top REITs Set to Perform in 2025
- 2 Rising CRM Platform Stocks That Can Surge Higher in 2025
- Oilfield Leader SLB: An AI Name You Need to Know
- What is a buyback in stocks? A comprehensive guide for investors
- Top ETFs That Beat the Market in 2024 and Could Do It Again
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV – Free Report).
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.