1ST Source Bank Sells 219 Shares of AbbVie Inc. (NYSE:ABBV)

1ST Source Bank reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 28,270 shares of the company’s stock after selling 219 shares during the period. 1ST Source Bank’s holdings in AbbVie were worth $5,024,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Cassady Schiller Wealth Management LLC lifted its holdings in shares of AbbVie by 3.1% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 2,689 shares of the company’s stock worth $478,000 after acquiring an additional 80 shares during the last quarter. TCTC Holdings LLC raised its position in AbbVie by 0.3% in the 4th quarter. TCTC Holdings LLC now owns 140,099 shares of the company’s stock worth $24,896,000 after purchasing an additional 420 shares during the period. Cibc World Markets Corp raised its position in AbbVie by 16.3% in the 4th quarter. Cibc World Markets Corp now owns 278,787 shares of the company’s stock worth $49,540,000 after purchasing an additional 39,070 shares during the period. GLOBALT Investments LLC GA raised its position in AbbVie by 20.8% in the 4th quarter. GLOBALT Investments LLC GA now owns 23,138 shares of the company’s stock worth $4,112,000 after purchasing an additional 3,982 shares during the period. Finally, RS Crum Inc. raised its position in AbbVie by 4.6% in the 4th quarter. RS Crum Inc. now owns 2,280 shares of the company’s stock worth $405,000 after purchasing an additional 100 shares during the period. 70.23% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the sale, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. The trade was a 62.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,639 shares of company stock worth $11,067,025 over the last 90 days. 0.25% of the stock is currently owned by insiders.

AbbVie Price Performance

Shares of ABBV opened at $211.90 on Monday. The stock has a market cap of $374.07 billion, a PE ratio of 88.29, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The firm’s 50-day simple moving average is $191.09 and its two-hundred day simple moving average is $188.05.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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 296.28% and a net margin of 7.59%. During the same quarter in the previous year, the firm posted $2.79 earnings per share. Analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is 273.33%.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of analyst reports. BMO Capital Markets lifted their target price 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. Bank of America lifted their target price on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Morgan Stanley lifted their target price on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Citigroup boosted their price objective on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Five 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $211.45.

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.