AbbVie Inc. (NYSE:ABBV) Shares Sold by Trustmark National Bank Trust Department

Trustmark National Bank Trust Department trimmed its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 12.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,442 shares of the company's stock after selling 6,003 shares during the period. Trustmark National Bank Trust Department's holdings in AbbVie were worth $8,381,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fairway Wealth LLC bought a new position in AbbVie during the 2nd quarter worth $26,000. Ridgewood Investments LLC bought a new position in shares of AbbVie during the second quarter worth about $27,000. Quest Partners LLC increased its holdings in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company's stock worth $36,000 after acquiring an additional 207 shares during the period. Marquette Asset Management LLC bought a new stake in shares of AbbVie during the third quarter valued at approximately $39,000. Finally, Mizuho Securities Co. Ltd. boosted its position in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $39,000 after buying an additional 100 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $167.74 on Thursday. The business's 50-day simple moving average is $190.25 and its 200-day simple moving average is $181.01. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a 52 week low of $137.65 and a 52 week high of $207.32. The firm has a market cap of $296.42 billion, a price-to-earnings ratio of 58.24, a P/E/G ratio of 2.01 and a beta of 0.63.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.95 EPS. As a group, equities research analysts expect that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.91%. This is a positive change from AbbVie's previous quarterly dividend of $1.55. AbbVie's dividend payout ratio (DPR) is 215.28%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Guggenheim increased their target price on shares of AbbVie from $212.00 to $221.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Sanford C. Bernstein assumed coverage on shares of AbbVie in a report on Thursday, October 17th. They issued a "market perform" rating and a $203.00 price target for the company. Wolfe Research initiated coverage on shares of AbbVie in a research report on Friday, November 15th. They issued an "outperform" rating and a $205.00 price target on the stock. Bank of America lifted their target price on AbbVie from $185.00 to $195.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Finally, BMO Capital Markets reduced their price objective on shares of AbbVie from $228.00 to $208.00 and set an "outperform" rating for the company in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and a consensus target price of $203.37.

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.

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