Peoples Bank OH Sells 1,506 Shares of AbbVie Inc. (NYSE:ABBV)

Peoples Bank OH decreased its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 39.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,268 shares of the company's stock after selling 1,506 shares during the quarter. Peoples Bank OH's holdings in AbbVie were worth $403,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in ABBV. AMF Tjanstepension AB bought a new stake in shares of AbbVie in the 3rd quarter worth about $8,777,000. Swedbank AB grew its holdings in shares of AbbVie by 0.3% in the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company's stock worth $424,014,000 after purchasing an additional 6,810 shares during the last quarter. Howard Capital Management Group LLC grew its holdings in shares of AbbVie by 20.3% in the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company's stock worth $397,000 after purchasing an additional 339 shares during the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of AbbVie in the 3rd quarter worth about $1,186,000. Finally, Wallington Asset Management LLC bought a new stake in AbbVie during the 3rd quarter worth about $277,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of research analyst reports. Wolfe Research initiated coverage on shares of AbbVie in a report on Friday, November 15th. They set an "outperform" rating and a $205.00 price objective on the stock. Daiwa Capital Markets lowered shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price objective on the stock. in a report on Thursday, December 5th. Truist Financial increased their price objective on shares of AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Piper Sandler Companies reissued an "overweight" rating and set a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Finally, BMO Capital Markets raised their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $208.35.

AbbVie Trading Up 0.6 %

Shares of ABBV traded up $1.15 during trading hours on Friday, reaching $202.03. The stock had a trading volume of 5,879,957 shares, compared to its average volume of 5,370,269. The firm has a 50-day moving average of $181.25 and a 200 day moving average of $186.41. The company has a market cap of $356.64 billion, a P/E 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 Inc. has a 52 week low of $153.58 and a 52 week high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts' consensus estimates 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 quarter last year, the company earned $2.79 EPS. On average, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share 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 paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.25%. AbbVie's dividend payout ratio (DPR) is currently 273.33%.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.25% of the stock is currently owned by company insiders.

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.