Sabal Trust CO Has $45.98 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Sabal Trust CO lowered its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 219,450 shares of the company's stock after selling 1,692 shares during the period. AbbVie accounts for about 2.6% of Sabal Trust CO's holdings, making the stock its 4th biggest position. Sabal Trust CO's holdings in AbbVie were worth $45,979,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Crestline Management LP lifted its holdings in shares of AbbVie by 438.4% in the fourth quarter. Crestline Management LP now owns 35,311 shares of the company's stock valued at $6,275,000 after purchasing an additional 28,753 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of AbbVie by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock valued at $1,664,489,000 after purchasing an additional 108,993 shares in the last quarter. Quantbot Technologies LP lifted its holdings in shares of AbbVie by 35.8% in the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock valued at $186,000 after purchasing an additional 276 shares in the last quarter. AXA S.A. lifted its holdings in shares of AbbVie by 14.8% in the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock valued at $172,705,000 after purchasing an additional 125,568 shares in the last quarter. Finally, Weaver Capital Management LLC lifted its holdings in shares of AbbVie by 3.9% in the first quarter. Weaver Capital Management LLC now owns 8,240 shares of the company's stock valued at $1,727,000 after purchasing an additional 310 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Guggenheim raised their target price on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Wells Fargo & Company lifted their price target on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Finally, Cantor Fitzgerald initiated coverage on AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target on the stock. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $211.29.

Insider Activity

In related news, 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 completion of the sale, the executive vice president now owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by company insiders.

AbbVie Stock Performance

Shares of NYSE ABBV traded down $4.90 during mid-day trading on Friday, hitting $181.89. The company had a trading volume of 29,262,557 shares, compared to its average volume of 6,322,369. The company has a market capitalization of $321.29 billion, a price-to-earnings ratio of 77.40, a P/E/G ratio of 1.24 and a beta of 0.50. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. 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 stock's 50-day moving average price is $186.03 and its 200-day moving average price is $187.88.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.31 earnings per share. On average, sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is presently 279.15%.

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.