First American Trust FSB Purchases 2,738 Shares of AbbVie Inc. (NYSE:ABBV)

Key Points

• First American Trust FSB increased its stake in AbbVie Inc. (NYSE:ABBV) by 5.0%, acquiring an additional 2,738 shares to own a total of 57,230 shares valued at approximately $11.99 million.
• AbbVie reported Q2 earnings of $2.97 per share, which fell short of analysts' expectations of $3.24, despite a 6.6% year-over-year revenue increase to $15.42 billion.
• The company recently declared a quarterly dividend of $1.64, with a yield of 3.3%, although its dividend payout ratio stands at 312.38%.

First American Trust FSB grew its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,230 shares of the company's stock after purchasing an additional 2,738 shares during the period. AbbVie comprises about 1.1% of First American Trust FSB's holdings, making the stock its 21st largest holding. First American Trust FSB's holdings in AbbVie were worth $11,991,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ABBV. GAMMA Investing LLC lifted its stake in AbbVie by 25,841.6% during the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock worth $2,144,382,000 after purchasing an additional 10,195,284 shares during the last quarter. Nuveen LLC bought a new stake in shares of AbbVie in the 1st quarter valued at about $1,819,154,000. Goldman Sachs Group Inc. lifted its stake in shares of AbbVie by 31.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company's stock valued at $3,068,820,000 after acquiring an additional 3,519,187 shares during the last quarter. Northern Trust Corp lifted its stake in shares of AbbVie by 11.8% in the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock valued at $3,878,236,000 after acquiring an additional 2,299,645 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of AbbVie by 27.4% in the 4th quarter. Deutsche Bank AG now owns 9,769,102 shares of the company's stock valued at $1,735,969,000 after acquiring an additional 2,102,273 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

AbbVie Stock Down 0.4%

ABBV stock opened at $198.10 on Friday. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The business's 50 day moving average price is $189.65 and its two-hundred day moving average price is $191.21. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.74. The company has a market capitalization of $349.96 billion, a price-to-earnings ratio of 94.33, a price-to-earnings-growth ratio of 1.27 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%. The firm had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.93 billion. During the same quarter last year, the company posted $2.65 EPS. The firm's revenue was up 6.6% on a year-over-year basis. As a group, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.3%. AbbVie's dividend payout ratio is presently 312.38%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ABBV. Daiwa Capital Markets raised AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 target price for the company in a research note on Thursday. Guggenheim boosted their target price on AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. BNP Paribas raised AbbVie to a "hold" rating in a research note on Thursday, May 8th. Finally, Daiwa America raised AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus price target of $214.43.

Insider Buying and Selling at AbbVie

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the sale, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by insiders.

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.

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