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

UMB Bank n.a. lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 26.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,661 shares of the company’s stock after selling 37,242 shares during the period. UMB Bank n.a.’s holdings in AbbVie were worth $18,776,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ABBV. AHL Investment Management Inc. lifted 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 acquiring an additional 91 shares in the last quarter. Strong Tower Advisory Services raised its stake in shares of AbbVie by 10.3% during the 4th quarter. Strong Tower Advisory Services now owns 11,163 shares of the company’s stock valued at $1,984,000 after purchasing an additional 1,044 shares during the period. Wealth Management Partners LLC lifted its holdings in AbbVie by 11.3% during the 4th 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. boosted its stake in AbbVie by 1.0% in the 4th 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 during the period. Finally, Community Bank of Raymore grew its holdings in AbbVie by 12.3% during the 4th quarter. Community Bank of Raymore now owns 13,899 shares of the company’s stock valued at $2,470,000 after buying an additional 1,520 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 1.3 %

NYSE ABBV opened at $171.49 on Tuesday. The firm has a market cap of $303.05 billion, a PE ratio of 59.55, a price-to-earnings-growth ratio of 1.73 and a beta of 0.58. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The stock has a 50-day moving average of $175.78 and a 200-day moving average of $184.75. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the prior year, the firm posted $2.95 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts forecast that AbbVie Inc. will post 10.06 EPS for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. 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 215.28%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Piper Sandler increased their price target on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a report on Thursday, December 5th. Barclays boosted their price target on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Finally, BMO Capital Markets reduced their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is currently owned by company insiders.

About AbbVie

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.