Capital City Trust Co. FL Acquires 377 Shares of AbbVie Inc. (NYSE:ABBV)

Capital City Trust Co. FL boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.0% in the fourth quarter, Holdings Channel reports. The firm owned 36,988 shares of the company’s stock after purchasing an additional 377 shares during the quarter. AbbVie comprises about 1.6% of Capital City Trust Co. FL’s portfolio, making the stock its 16th biggest holding. Capital City Trust Co. FL’s holdings in AbbVie were worth $6,573,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Atlanta Consulting Group Advisors LLC bought a new position in shares of AbbVie in the third quarter valued at approximately $999,000. Saturna Capital Corp raised its stake in shares of AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after acquiring an additional 560,808 shares during the last quarter. Everence Capital Management Inc. raised its stake in shares of AbbVie by 41.3% in the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after acquiring an additional 15,550 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of AbbVie by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after acquiring an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC raised its stake in shares of AbbVie by 23.5% in the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after acquiring an additional 10,768 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research analyst reports. BMO Capital Markets boosted their price objective on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. UBS Group boosted their price objective on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Wolfe Research initiated coverage on shares of AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. Piper Sandler boosted their price objective 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. Finally, Truist Financial boosted their price objective on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Stock Up 0.6 %

Shares of ABBV opened at $202.03 on Friday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The firm’s 50 day moving average is $180.68 and its 200-day moving average is $186.29. The stock has a market capitalization of $356.64 billion, a PE ratio of 84.18, a P/E/G ratio of 1.58 and a beta of 0.58. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the prior year, the firm earned $2.79 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 12.32 EPS for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.25%. AbbVie’s dividend payout ratio is currently 273.33%.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’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 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 filing with the SEC, which is available at this link. Company 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.