Security National Bank of Sioux City Iowa IA Reduces Stock Position in AbbVie Inc. (NYSE:ABBV)

Security National Bank of Sioux City Iowa IA decreased its position in AbbVie Inc. (NYSE:ABBV) by 31.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,517 shares of the company’s stock after selling 6,116 shares during the quarter. AbbVie comprises about 1.7% of Security National Bank of Sioux City Iowa IA’s holdings, making the stock its 16th largest position. Security National Bank of Sioux City Iowa IA’s holdings in AbbVie were worth $2,402,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. Fiduciary Advisors Inc. acquired a new position in AbbVie in the fourth quarter valued at $29,000. EnRich Financial Partners LLC grew its holdings in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after buying an additional 110 shares during the period. Promus Capital LLC purchased a new stake in AbbVie in the 4th quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of AbbVie during the 4th quarter valued at about $31,000. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of AbbVie during the 4th quarter worth about $32,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

In other news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. This trade represents a 40.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This represents a 20.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock valued at $23,426,451 in the last quarter. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ABBV. Truist Financial boosted their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Cantor Fitzgerald started coverage on AbbVie in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price objective on the stock. Guggenheim boosted their target price on shares of AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Finally, BNP Paribas upgraded AbbVie to a “hold” rating in a research note on Thursday, May 8th. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $210.95.

AbbVie Stock Up 2.3%

Shares of AbbVie stock opened at $181.52 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The stock has a 50-day moving average price of $191.89 and a 200 day moving average price of $187.11. The company has a market cap of $321.10 billion, a P/E ratio of 75.63, a P/E/G ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $2.31 earnings per share. As a group, analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

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.