Trust Co. of Vermont Sells 2,907 Shares of AbbVie Inc. (NYSE:ABBV)

Trust Co. of Vermont cut its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 169,583 shares of the company's stock after selling 2,907 shares during the quarter. AbbVie comprises approximately 1.5% of Trust Co. of Vermont's holdings, making the stock its 12th largest position. Trust Co. of Vermont's holdings in AbbVie were worth $30,135,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Gill Capital Partners LLC lifted its holdings in AbbVie by 67.4% in the 4th quarter. Gill Capital Partners LLC now owns 1,741 shares of the company's stock worth $309,000 after purchasing an additional 701 shares during the last quarter. Premier Path Wealth Partners LLC raised its position in shares of AbbVie by 14.9% in the fourth quarter. Premier Path Wealth Partners LLC now owns 10,426 shares of the company's stock valued at $1,853,000 after purchasing an additional 1,353 shares during the period. Howard Financial Services LTD. lifted its stake in shares of AbbVie by 3.1% in the fourth quarter. Howard Financial Services LTD. now owns 3,760 shares of the company's stock worth $668,000 after buying an additional 113 shares during the last quarter. Alhambra Investment Management LLC boosted its holdings in shares of AbbVie by 11.5% during the 4th quarter. Alhambra Investment Management LLC now owns 3,495 shares of the company's stock worth $621,000 after buying an additional 360 shares during the period. Finally, Verity & Verity LLC grew its stake in AbbVie by 5.2% in the 4th quarter. Verity & Verity LLC now owns 171,852 shares of the company's stock valued at $30,538,000 after buying an additional 8,544 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Sanford C. Bernstein assumed coverage on AbbVie in a research note on Thursday, October 17th. They set a "market perform" rating and a $203.00 target price for the company. JPMorgan Chase & Co. lowered their price objective on shares of AbbVie from $210.00 to $200.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 13th. Piper Sandler Companies reiterated an "overweight" rating and set a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Wells Fargo & Company raised their price target on shares of AbbVie to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Finally, Daiwa Capital Markets lowered shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price objective for the company. in a research report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and an average target price of $205.50.

AbbVie Stock Performance

NYSE ABBV traded down $2.21 on Friday, reaching $171.49. The stock had a trading volume of 7,581,211 shares, compared to its average volume of 4,943,678. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The company has a market cap of $303.05 billion, a P/E ratio of 59.55, a price-to-earnings-growth ratio of 1.73 and a beta of 0.58. The firm has a fifty day moving average of $175.78 and a two-hundred day moving average of $184.60. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

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

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie's previous quarterly dividend of $1.55. AbbVie's dividend payout ratio is presently 215.28%.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm's stock in a transaction on 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 transaction, the senior vice president now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.25% of the company's stock.

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.