Arvest Bank Trust Division Lowers Stock Position in AbbVie Inc. (NYSE:ABBV)

Arvest Bank Trust Division cut its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 89,394 shares of the company's stock after selling 1,830 shares during the period. Arvest Bank Trust Division's holdings in AbbVie were worth $15,885,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fiduciary Advisors Inc. purchased a new stake in AbbVie in the 4th quarter worth approximately $29,000. EnRich Financial Partners LLC raised its position in shares of AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after acquiring an additional 110 shares during the period. Promus Capital LLC acquired a new stake in shares of AbbVie during the 4th quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie in the 4th quarter worth about $31,000. Finally, Prudent Man Investment Management Inc. purchased a new position in AbbVie during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Trading Down 1.6 %

Shares of NYSE:ABBV traded down $2.79 during midday trading on Monday, reaching $170.20. 2,378,244 shares of the company's stock were exchanged, compared to its average volume of 5,991,301. The firm's 50 day simple moving average is $198.47 and its two-hundred day simple moving average is $187.71. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The stock has a market cap of $301.08 billion, a price-to-earnings ratio of 70.92, a P/E/G ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the previous year, the company earned $2.79 earnings per share. As a group, sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.85%. AbbVie's dividend payout ratio (DPR) is presently 273.33%.

Analyst Ratings Changes

Several brokerages have recently weighed in on ABBV. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Citigroup increased their price objective on shares of AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Morgan Stanley reiterated a "hold" rating on shares of AbbVie in a research report on Friday, April 11th. Truist Financial lifted their price objective on AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Finally, StockNews.com downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, April 9th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and an average price target of $210.71.

Insiders Place Their Bets

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares of the company's stock, valued at $11,183,398.72. This trade represents a 52.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares of the company's stock, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,471 shares of company stock worth $23,426,451 over the last 90 days. Corporate insiders own 0.25% of the company's stock.

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.