Union Savings Bank Sells 94 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Cerbat Gem

Union Savings Bank trimmed its holdings in AbbVie Inc. (NYSE:ABBV – Free Report) by 1.9% during the first quarter, Holdings Channel reports. The institutional investor owned 4,950 shares of the company’s stock after selling 94 shares during the quarter. Union Savings Bank’s holdings in AbbVie were worth $1,037,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. EnRich Financial Partners LLC increased its holdings 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 buying an additional 110 shares during the last quarter. Promus Capital LLC purchased a new stake in AbbVie during the fourth quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie during the fourth quarter worth about $31,000. Prudent Man Investment Management Inc. bought a new position in shares of AbbVie in the fourth quarter valued at approximately $32,000. Finally, Siemens Fonds Invest GmbH lifted its position in AbbVie by 197.6% during the fourth 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. 70.23% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $185.16 on Friday. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The business has a 50-day simple moving average of $185.19 and a two-hundred day simple moving average of $187.63. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The firm has a market cap of $327.06 billion, a price-to-earnings ratio of 78.79, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50.

AbbVie (NYSE:ABBV – Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the previous year, the firm earned $2.31 EPS. AbbVie’s revenue was up 8.4% on a year-over-year basis. On average, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm 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 dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.54%. AbbVie’s payout ratio is currently 279.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a research report on Thursday, May 8th. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 target price for the company. The Goldman Sachs Group reiterated a “neutral” rating and set a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Finally, Morgan Stanley lifted their target price on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. 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 Analysis on AbbVie

About AbbVie

(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.

See Also

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