AbbVie Inc. (NYSE:ABBV) Shares Bought by Tompkins Financial Corp

Tompkins Financial Corp lifted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 5.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,727 shares of the company's stock after buying an additional 1,956 shares during the quarter. Tompkins Financial Corp's holdings in AbbVie were worth $6,349,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Atlanta Consulting Group Advisors LLC purchased a new stake in AbbVie in the third quarter valued at approximately $999,000. Saturna Capital Corp raised its position 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 purchasing an additional 560,808 shares during the last quarter. Everence Capital Management Inc. boosted its stake in AbbVie by 41.3% during 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 grew its position in AbbVie by 9.5% during 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 last quarter. Finally, Avior Wealth Management LLC grew its position in AbbVie by 23.5% during 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 last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ABBV. Leerink Partnrs upgraded shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 22nd. Sanford C. Bernstein started coverage on AbbVie in a research report on Thursday, October 17th. They set a "market perform" rating and a $203.00 price objective for the company. Barclays boosted their target price on AbbVie from $200.00 to $212.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Citigroup decreased their price target on AbbVie from $226.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, November 12th. Finally, Morgan Stanley dropped their price objective on shares of AbbVie from $231.00 to $224.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 12th. Five investment 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $205.50.

AbbVie Price Performance

Shares of NYSE:ABBV traded down $2.21 during midday trading on Friday, hitting $171.49. 7,581,211 shares of the stock were exchanged, compared to its average volume of 4,943,678. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The company has a 50 day moving average price of $175.78 and a 200-day moving average price of $184.47. The stock has a market cap of $303.05 billion, a P/E ratio of 59.55, a PEG ratio of 1.73 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analysts' expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.95 earnings per share. On average, research analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is an increase from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.83%. AbbVie's dividend payout ratio (DPR) is presently 215.28%.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction 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 $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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.