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

Sabal Trust CO lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 219,450 shares of the company’s stock after selling 1,692 shares during the period. AbbVie makes up approximately 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 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ABBV. Blue Bell Private Wealth Management LLC increased its position in shares of AbbVie by 30.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares during the last quarter. Steel Grove Capital Advisors LLC boosted its stake in AbbVie by 1.7% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock worth $553,000 after buying an additional 52 shares during the period. Peninsula Wealth LLC increased its position in shares of AbbVie by 4.1% during the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock valued at $242,000 after acquiring an additional 54 shares during the last quarter. Connecticut Wealth Management LLC raised its stake in shares of AbbVie by 1.6% in the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock valued at $660,000 after acquiring an additional 57 shares during the period. Finally, Northstar Group Inc. lifted its holdings in shares of AbbVie by 0.7% in the 1st quarter. Northstar Group Inc. now owns 8,512 shares of the company’s stock worth $1,783,000 after acquiring an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ABBV. Cantor Fitzgerald started coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 target price for the company. Wall Street Zen lowered 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 company an “outperform” rating in a report on Monday, April 28th. BNP Paribas raised AbbVie to a “hold” rating in a research note on Thursday, May 8th. Finally, Wells Fargo & Company lifted their target price on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $211.29.

AbbVie Stock Performance

ABBV opened at $185.64 on Thursday. The stock’s 50 day simple moving average is $185.74 and its 200 day simple moving average is $187.81. The stock has a market cap of $327.91 billion, a P/E ratio of 79.00, a P/E/G ratio of 1.23 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 debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 412.03% and a net margin of 7.31%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $2.31 earnings per share. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Tuesday, July 15th. AbbVie’s payout ratio is currently 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.