UMB Bank n.a. Reduces Position in AbbVie Inc. (NYSE:ABBV)

UMB Bank n.a. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 26.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,661 shares of the company's stock after selling 37,242 shares during the quarter. UMB Bank n.a.'s holdings in AbbVie were worth $18,776,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. AHL Investment Management Inc. increased its position in shares of AbbVie by 0.4% during the fourth quarter. AHL Investment Management Inc. now owns 22,291 shares of the company's stock worth $3,961,000 after purchasing an additional 91 shares in the last quarter. Strong Tower Advisory Services increased its position in shares of AbbVie by 10.3% during the fourth quarter. Strong Tower Advisory Services now owns 11,163 shares of the company's stock worth $1,984,000 after purchasing an additional 1,044 shares in the last quarter. Wealth Management Partners LLC increased its position in shares of AbbVie by 11.3% during the fourth quarter. Wealth Management Partners LLC now owns 4,287 shares of the company's stock worth $762,000 after purchasing an additional 434 shares in the last quarter. Access Financial Services Inc. increased its position in shares of AbbVie by 1.0% during the fourth quarter. Access Financial Services Inc. now owns 7,313 shares of the company's stock worth $1,300,000 after purchasing an additional 75 shares in the last quarter. Finally, Community Bank of Raymore increased its position in shares of AbbVie by 12.3% during the fourth quarter. Community Bank of Raymore now owns 13,899 shares of the company's stock worth $2,470,000 after purchasing an additional 1,520 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated 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 owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Wolfe Research began coverage on AbbVie in a research report on Friday, November 15th. They set an "outperform" rating and a $205.00 price target for the company. Bank of America restated a "neutral" rating and issued a $191.00 target price on shares of AbbVie in a report on Tuesday, December 10th. Wells Fargo & Company upped their target price on AbbVie to $195.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. Truist Financial dropped their target price on AbbVie from $215.00 to $211.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Finally, Leerink Partners upgraded AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 target price for the company in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $205.50.

AbbVie Trading Up 0.5 %

ABBV traded up $0.85 during mid-day trading on Tuesday, hitting $172.41. 7,548,009 shares of the stock were exchanged, compared to its average volume of 5,728,405. The firm's fifty day moving average is $175.72 and its two-hundred day moving average is $184.80. AbbVie Inc. has a 1-year low of $153.58 and a 1-year 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 market cap of $304.67 billion, a PE ratio of 59.86, a PEG ratio of 1.69 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.95 EPS. Equities analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current fiscal 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 $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.80%. This is a positive change from AbbVie's previous quarterly dividend of $1.55. AbbVie's dividend payout ratio (DPR) is currently 227.78%.

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.