Stock Yards Bank & Trust Co. Cuts Position in AbbVie Inc. (NYSE:ABBV)

Stock Yards Bank & Trust Co. decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 13.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,672 shares of the company’s stock after selling 10,343 shares during the period. Stock Yards Bank & Trust Co.’s holdings in AbbVie were worth $11,492,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GGM Financials LLC increased its holdings in AbbVie by 0.7% in the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after acquiring an additional 50 shares in the last quarter. Pine Haven Investment Counsel Inc lifted its holdings in AbbVie by 0.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock worth $3,575,000 after buying an additional 52 shares in the last quarter. Dillon & Associates Inc. lifted its stake in AbbVie by 0.8% in the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after acquiring an additional 52 shares during the last quarter. Sunflower Bank N.A. boosted its holdings in shares of AbbVie by 0.4% in the 3rd quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock valued at $2,710,000 after buying an additional 53 shares in the last quarter. Finally, Professional Financial Advisors LLC increased its position in AbbVie by 3.4% during the third quarter. Professional Financial Advisors LLC now owns 1,638 shares of the company’s stock worth $323,000 after buying an additional 54 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 4.7 %

NYSE:ABBV opened at $183.90 on Monday. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The business’s 50-day simple moving average is $176.57 and its 200 day simple moving average is $185.06. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock has a market cap of $324.98 billion, a price-to-earnings ratio of 63.85, a price-to-earnings-growth ratio of 1.77 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 244.01% and a net margin of 9.22%. During the same quarter last year, the company posted $2.79 EPS. As a group, sell-side analysts predict that AbbVie Inc. will post 10.09 earnings per share for the current fiscal year.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction 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 in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of several recent analyst reports. Piper Sandler Companies restated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a report on Friday, November 22nd. Truist Financial decreased their price target on AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a report on Thursday, December 5th. Finally, Guggenheim upped their price target on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.00.

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.