AbbVie Inc. (NYSE:ABBV) Shares Sold by Ledyard National Bank

by · The Cerbat Gem

Ledyard National Bank lessened its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 4.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 19,689 shares of the company’s stock after selling 965 shares during the period. Ledyard National Bank’s holdings in AbbVie were worth $4,125,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EnRich Financial Partners LLC increased its stake in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares during the last quarter. Promus Capital LLC acquired a new position in AbbVie during the 4th quarter worth $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie during the 4th quarter worth $31,000. Prudent Man Investment Management Inc. acquired a new position in AbbVie during the 4th quarter worth $32,000. Finally, Siemens Fonds Invest GmbH grew its position in shares of AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after buying an additional 119,141 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 opened at $183.92 on Tuesday. The stock has a market capitalization of $324.88 billion, a PE ratio of 78.26, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50. AbbVie Inc. has a 52-week low of $163.52 and a 52-week high of $218.66. The stock’s 50-day moving average price is $185.28 and its 200 day moving average price is $187.84. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion for 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 revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.31 EPS. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

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 given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 279.15%.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. BNP Paribas raised AbbVie to a “hold” rating in a research report on Thursday, May 8th. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Evercore ISI boosted their price objective on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Morgan Stanley lifted their price target on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Eight 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.29.

Check Out Our Latest Stock Report on AbbVie

AbbVie Company Profile

(Free Report)

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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