Fiduciary Trust Co Acquires 3,674 Shares of AbbVie Inc. (NYSE:ABBV)

Fiduciary Trust Co boosted its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 303,279 shares of the company's stock after buying an additional 3,674 shares during the period. AbbVie makes up about 0.7% of Fiduciary Trust Co's investment portfolio, making the stock its 23rd largest position. Fiduciary Trust Co's holdings in AbbVie were worth $53,893,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its stake in shares of AbbVie by 12.3% in the third quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company's stock valued at $491,204,000 after purchasing an additional 273,078 shares in the last quarter. Watts Gwilliam & Co. LLC lifted its holdings in shares of AbbVie by 0.4% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 16,186 shares of the company's stock worth $2,906,000 after acquiring an additional 70 shares during the period. Fortitude Family Office LLC boosted its position in shares of AbbVie by 0.9% during the 4th quarter. Fortitude Family Office LLC now owns 10,350 shares of the company's stock valued at $1,839,000 after acquiring an additional 91 shares in the last quarter. Baker Tilly Wealth Management LLC increased its stake in AbbVie by 2.5% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 3,890 shares of the company's stock valued at $691,000 after acquiring an additional 94 shares during the period. Finally, ORG Partners LLC raised its position in AbbVie by 26.5% in the fourth quarter. ORG Partners LLC now owns 12,096 shares of the company's stock worth $2,155,000 after purchasing an additional 2,535 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their price objective on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Citigroup boosted their price target on AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. UBS Group lifted their price objective on AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Truist Financial upped their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Finally, Cantor Fitzgerald initiated coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target for the company. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $211.41.

AbbVie Stock Down 0.7 %

Shares of NYSE:ABBV traded down $1.28 during midday trading on Friday, reaching $184.30. The company had a trading volume of 7,806,084 shares, compared to its average volume of 6,133,352. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The business's 50 day moving average price is $194.23 and its 200 day moving average price is $187.23. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The stock has a market cap of $326.02 billion, a PE ratio of 76.79, a P/E/G ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $2.31 EPS. Research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued 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 dividend yield of 3.56%. AbbVie's dividend payout ratio (DPR) is currently 279.15%.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 18,944 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the sale, the senior vice president now directly owns 11,496 shares of the company's stock, valued at approximately $2,338,401.36. This represents a 62.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares of the company's stock, valued at $11,183,398.72. This represents a 52.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,471 shares of company stock worth $23,426,451 in the last three months. 0.08% of the stock is owned by corporate 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.