Bank of Jackson Hole Trust Invests $1.11 Million in AbbVie Inc. (NYSE:ABBV)

Bank of Jackson Hole Trust purchased a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,268 shares of the company's stock, valued at approximately $1,114,000.

Several other institutional investors have also recently added to or reduced their stakes in ABBV. International Assets Investment Management LLC raised its stake in AbbVie by 1,745.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company's stock valued at $933,698,000 after purchasing an additional 4,471,806 shares during the last quarter. State Street Corp grew its holdings in AbbVie by 1.6% in the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company's stock valued at $15,614,329,000 after buying an additional 1,267,685 shares during the period. Assenagon Asset Management S.A. grew its holdings in AbbVie by 59.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company's stock valued at $414,088,000 after buying an additional 781,858 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings 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 valued at $2,009,542,000 after buying an additional 582,953 shares during the period. Finally, Saturna Capital Corp grew its holdings in AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock valued at $133,531,000 after buying an additional 560,808 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now directly 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 legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on ABBV. Citigroup lifted their price target on AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Truist Financial lifted their price target on AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Wolfe Research began coverage on AbbVie in a report on Friday, November 15th. They issued an "outperform" rating and a $205.00 price target for the company. Leerink Partnrs upgraded AbbVie from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Finally, BMO Capital Markets boosted their target price on AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and a consensus price target of $208.35.

AbbVie Stock Up 0.6 %

Shares of ABBV traded up $1.15 during trading on Friday, reaching $202.03. The company's stock had a trading volume of 5,879,957 shares, compared to its average volume of 5,370,269. The company has a fifty day moving average of $181.25 and a two-hundred day moving average of $186.41. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a market cap of $356.64 billion, a price-to-earnings ratio of 84.18, a P/E/G ratio of 1.61 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV - Get Free Report) last announced its 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 period last year, the business earned $2.79 earnings per share. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio is currently 273.33%.

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.