First National Bank & Trust Co. of Newtown Cuts Stake in AbbVie Inc. (NYSE:ABBV)

First National Bank & Trust Co. of Newtown lessened its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 11.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,222 shares of the company's stock after selling 1,550 shares during the quarter. First National Bank & Trust Co. of Newtown's holdings in AbbVie were worth $2,172,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. GGM Financials LLC lifted its holdings in shares of AbbVie by 0.7% in the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company's stock valued at $1,362,000 after purchasing an additional 50 shares during the last quarter. Dillon & Associates Inc. lifted its holdings in shares of AbbVie by 0.8% in the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company's stock valued at $1,362,000 after purchasing an additional 52 shares during the last quarter. WFA Asset Management Corp raised its stake in AbbVie by 0.8% during the 3rd quarter. WFA Asset Management Corp now owns 7,003 shares of the company's stock valued at $1,383,000 after acquiring an additional 55 shares during the last quarter. Carr Financial Group Corp raised its stake in AbbVie by 1.1% during the 3rd quarter. Carr Financial Group Corp now owns 5,274 shares of the company's stock valued at $1,041,000 after acquiring an additional 56 shares during the last quarter. Finally, Wealthstream Advisors Inc. raised its stake in AbbVie by 3.0% during the 3rd quarter. Wealthstream Advisors Inc. now owns 1,954 shares of the company's stock valued at $386,000 after acquiring an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Trading Up 0.6 %

Shares of ABBV stock traded up $1.15 during mid-day trading on Friday, hitting $202.03. 5,879,957 shares of the company's stock were exchanged, compared to its average volume of 5,370,269. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The stock has a 50-day simple moving average of $181.25 and a two-hundred day simple moving average of $186.41. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock has a market cap of $356.64 billion, a price-to-earnings ratio of 84.18, a PEG ratio of 1.61 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period last year, the firm posted $2.79 EPS. Equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company 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 $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is currently 273.33%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Leerink Partners raised AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price objective for the company in a research note on Friday, November 22nd. Piper Sandler Companies reaffirmed an "overweight" rating and set a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Wells Fargo & Company upped their price objective on AbbVie from $195.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Piper Sandler increased their target price on AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Finally, BMO Capital Markets increased their target price on AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, AbbVie currently has an average rating of "Moderate Buy" and an average target price of $208.35.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company's stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company's stock.

About AbbVie

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.