Heritage Trust Co Has $18.80 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Key Points

• Heritage Trust Co reduced its stake in AbbVie Inc. by 4.0%, holding 89,728 shares worth approximately $18.80 million, making it the company's 6th largest stock position.
• AbbVie reported $2.97 EPS for the last quarter, falling short of estimates, while its revenue surged to $15.42 billion, surpassing analyst expectations.
• The company announced a quarterly dividend of $1.64 per share, reflecting an annual yield of 3.4% and a significant payout ratio of 279.15%.

Heritage Trust Co trimmed its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,728 shares of the company's stock after selling 3,726 shares during the period. AbbVie makes up 2.3% of Heritage Trust Co's portfolio, making the stock its 6th biggest position. Heritage Trust Co's holdings in AbbVie were worth $18,800,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ABBV. Steel Grove Capital Advisors LLC grew its holdings in AbbVie by 1.7% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after buying an additional 52 shares in the last quarter. Peninsula Wealth LLC raised its position in AbbVie by 4.1% in 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 during the last quarter. Private Management Group Inc. increased its holdings in AbbVie by 1.9% during the first quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock valued at $616,000 after buying an additional 54 shares during the last quarter. Connecticut Wealth Management LLC raised its position in AbbVie by 1.6% during the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock valued at $660,000 after purchasing an additional 57 shares during the period. Finally, Castle Wealth Management LLC grew its position in shares of 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 and hedge funds own 70.23% of the company's stock.

AbbVie Stock Performance

Shares of ABBV stock traded up $1.34 on Tuesday, hitting $198.53. 4,152,780 shares of the stock were exchanged, compared to its average volume of 6,840,451. 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 firm has a market capitalization of $350.68 billion, a PE ratio of 94.54, a P/E/G ratio of 1.27 and a beta of 0.50. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66. The firm's 50 day moving average is $188.60 and its two-hundred day moving average is $190.60.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 518.10%. The firm's revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.65 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.3%. AbbVie's payout ratio is presently 312.38%.

Analyst Ratings Changes

A number of analysts have commented on ABBV shares. Evercore ISI increased their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Bank of America increased their target price on AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Finally, Guggenheim lifted their price target on shares of AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a research report on Friday. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $212.81.

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.