AbbVie Inc. (NYSE:ABBV) Shares Sold by First Financial Bankshares Inc

First Financial Bankshares Inc trimmed its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 26.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,040 shares of the company's stock after selling 1,826 shares during the quarter. First Financial Bankshares Inc's holdings in AbbVie were worth $896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Everence Capital Management Inc. raised its holdings in AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company's stock worth $9,448,000 after purchasing an additional 15,550 shares during the period. GAMMA Investing LLC raised its holdings in AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company's stock worth $7,011,000 after purchasing an additional 3,439 shares during the period. Avior Wealth Management LLC raised its holdings in AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company's stock worth $11,169,000 after purchasing an additional 10,768 shares during the period. State Street Corp raised 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 worth $15,614,329,000 after purchasing an additional 1,267,685 shares during the period. Finally, Sky Investment Group LLC raised its holdings in AbbVie by 10.1% in the 4th quarter. Sky Investment Group LLC now owns 42,715 shares of the company's stock worth $7,590,000 after purchasing an additional 3,936 shares during the period. 70.23% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of equities analysts recently commented on ABBV shares. Citigroup raised their target price on AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Raymond James reiterated an "outperform" rating and issued a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Piper Sandler increased their price target on AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. BMO Capital Markets increased their price target on AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Finally, Daiwa America lowered AbbVie from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 5th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $211.45.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the transaction, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. The trade was a 62.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now owns 44,284 shares of the company's stock, valued at $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,639 shares of company stock worth $11,067,025 over the last three months. Company insiders own 0.25% of the company's stock.

AbbVie Stock Performance

Shares of ABBV traded down $1.98 during trading hours on Friday, reaching $209.98. 16,647,005 shares of the company traded hands, compared to its average volume of 5,243,989. The stock has a market capitalization of $370.68 billion, a P/E ratio of 87.49, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. The business has a fifty day moving average price of $194.49 and a 200-day moving average price of $188.61.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share 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 business earned $2.79 EPS. Equities analysts anticipate 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. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.12%. AbbVie's dividend payout ratio is presently 273.33%.

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.