Town & Country Bank & Trust CO dba First Bankers Trust CO Acquires 9,511 Shares of AbbVie Inc. $ABBV

Key Points

• Town & Country Bank & Trust CO increased its holdings in AbbVie by **41.5%**, acquiring an additional 9,511 shares to reach a total of 32,409 shares, valued at approximately **$6.02 million**.
• AbbVie reported **$2.97 earnings per share**, falling short of analysts' estimates, but achieved **$15.42 billion in revenue**, exceeding expectations with a **6.6%** year-over-year revenue growth.
• The firm declared a quarterly dividend of **$1.64 per share**, with a payout ratio of **312.38%**, and will be paid on **November 14th** to shareholders of record by **October 15th**.

Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 41.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,409 shares of the company's stock after acquiring an additional 9,511 shares during the period. AbbVie accounts for approximately 2.2% of Town & Country Bank & Trust CO dba First Bankers Trust CO's investment portfolio, making the stock its 7th biggest position. Town & Country Bank & Trust CO dba First Bankers Trust CO's holdings in AbbVie were worth $6,016,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Marshall & Sullivan Inc. WA purchased a new position in shares of AbbVie during the 2nd quarter worth $25,000. TD Capital Management LLC raised its stake in AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company's stock worth $27,000 after purchasing an additional 58 shares during the period. Abound Financial LLC acquired a new position in AbbVie in the 1st quarter valued at about $30,000. Siemens Fonds Invest GmbH boosted its holdings in AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after purchasing an additional 119,141 shares during the last quarter. Finally, Cypress Capital Management LLC WY purchased a new stake in shares of AbbVie in the 1st quarter valued at approximately $35,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Up 0.3%

Shares of AbbVie stock opened at $223.09 on Tuesday. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $225.16. The company has a market capitalization of $394.09 billion, a P/E ratio of 106.23, a P/E/G ratio of 1.33 and a beta of 0.53. The company has a 50 day moving average of $203.75 and a 200 day moving average of $194.84.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. AbbVie's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.65 earnings per share. As a group, research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie's payout ratio is 312.38%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Daiwa America raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Raymond James Financial restated an "outperform" rating on shares of AbbVie in a research report on Monday, August 25th. Morgan Stanley upped their price target on AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Guggenheim raised their price objective on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, BMO Capital Markets boosted their price objective on shares of AbbVie from $215.00 to $240.00 and gave the company an "outperform" rating in a report on Friday, September 12th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $223.45.

Insider Activity

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the transaction, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business'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 of the company's stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company's stock.

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.

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