First National Trust Co Sells 13,852 Shares of AbbVie Inc. (NYSE:ABBV)

Key Points

• First National Trust Co reduced its stake in AbbVie Inc. (NYSE:ABBV) by 9.8%, now holding 127,843 shares valued at approximately $26.8 million, ranking it as the fund's 19th largest position.
• AbbVie recently announced a quarterly dividend of $1.64 per share, yielding 3.43%, with a high dividend payout ratio of 279.15%.
• The stock has received multiple analyst upgrades, with a consensus target price of $211.29 and an average rating of "Moderate Buy" among analysts.

First National Trust Co lessened its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 9.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,843 shares of the company's stock after selling 13,852 shares during the period. AbbVie accounts for 1.1% of First National Trust Co's portfolio, making the stock its 19th largest holding. First National Trust Co's holdings in AbbVie were worth $26,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of ABBV. Steel Grove Capital Advisors LLC boosted its stake in AbbVie by 1.7% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after purchasing an additional 52 shares during the period. Peninsula Wealth LLC lifted its position in AbbVie by 4.1% during the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after buying an additional 54 shares in the last quarter. Private Management Group Inc. lifted its position in AbbVie by 1.9% during the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock worth $616,000 after buying an additional 54 shares in the last quarter. Connecticut Wealth Management LLC lifted its position in AbbVie by 1.6% during the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after buying an additional 57 shares in the last quarter. Finally, Castle Wealth Management LLC lifted its position in AbbVie by 3.4% during the 1st quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock worth $361,000 after buying an additional 57 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Friday. Raymond James Financial upped their target price on shares of AbbVie from $227.00 to $236.00 and gave the company an "outperform" rating in a report on Friday. Bank of America upped their target price on shares of AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Citigroup upped their target price on shares of AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Finally, Guggenheim upped their target price on shares of AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a report on Friday. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $212.81.

AbbVie Stock Performance

Shares of NYSE:ABBV traded up $6.15 on Friday, reaching $195.17. 8,081,230 shares of the company's stock were exchanged, compared to its average volume of 6,877,075. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The company has a market capitalization of $344.75 billion, a price-to-earnings ratio of 83.05, a PEG ratio of 1.25 and a beta of 0.48. The company has a fifty day moving average of $188.10 and a 200-day moving average of $190.04. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business's revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.65 EPS. On average, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is currently 279.15%.

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.