Webster Bank N. A. Has $10.92 Million Position in AbbVie Inc. (NYSE:ABBV)

Webster Bank N. A. lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 61,442 shares of the company's stock after selling 1,559 shares during the quarter. AbbVie makes up about 1.2% of Webster Bank N. A.'s investment portfolio, making the stock its 17th biggest position. Webster Bank N. A.'s holdings in AbbVie were worth $10,918,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ABBV. Cornerstone Wealth Group LLC boosted its position in AbbVie by 1.7% during the 4th quarter. Cornerstone Wealth Group LLC now owns 68,784 shares of the company's stock worth $12,223,000 after purchasing an additional 1,127 shares during the period. KBC Group NV boosted its holdings in AbbVie by 5.0% in the 4th quarter. KBC Group NV now owns 1,146,550 shares of the company's stock worth $203,742,000 after acquiring an additional 54,501 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in AbbVie in the fourth quarter valued at approximately $127,000. Apexium Financial LP raised its stake in shares of AbbVie by 22.5% during the fourth quarter. Apexium Financial LP now owns 3,968 shares of the company's stock valued at $705,000 after purchasing an additional 728 shares during the period. Finally, Capital Asset Advisory Services LLC lifted its position in shares of AbbVie by 2.6% during the fourth quarter. Capital Asset Advisory Services LLC now owns 18,448 shares of the company's stock worth $3,343,000 after purchasing an additional 473 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Performance

Shares of ABBV traded down $2.02 during mid-day trading on Tuesday, reaching $174.88. 5,603,615 shares of the company's stock traded hands, compared to its average volume of 6,088,012. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The stock has a market capitalization of $309.04 billion, a P/E ratio of 60.72, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. The business's 50-day moving average price is $176.05 and its 200-day moving average price is $184.94. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

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. The firm had revenue of $14.46 billion for 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%. AbbVie's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $2.95 EPS. Equities analysts predict that AbbVie Inc. will post 10.06 earnings per share 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 given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.75%. This is an increase from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie's dividend payout ratio is 227.78%.

Analyst Upgrades and Downgrades

ABBV has been the topic of several analyst reports. TD Cowen lifted their price target on shares of AbbVie from $195.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, October 7th. Daiwa America cut AbbVie from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 5th. Citigroup reduced their price target on AbbVie from $215.00 to $205.00 and set a "buy" rating for the company in a report on Tuesday. Barclays lifted their price objective on AbbVie from $200.00 to $212.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Finally, Piper Sandler raised their price target on shares of AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $205.00.

Insider Buying and Selling at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by corporate 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.