Capital City Trust Co. FL Buys 175 Shares of AbbVie Inc. $ABBV

Capital City Trust Co. FL lifted its stake in AbbVie Inc. (NYSE:ABBV) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 37,616 shares of the company’s stock after acquiring an additional 175 shares during the period. AbbVie accounts for about 1.8% of Capital City Trust Co. FL’s investment portfolio, making the stock its 15th largest position. Capital City Trust Co. FL’s holdings in AbbVie were worth $6,982,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TD Capital Management LLC increased its position in shares of AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Marshall & Sullivan Inc. WA bought a new stake in AbbVie in the second quarter valued at $25,000. Abound Financial LLC bought a new stake in AbbVie in the first quarter valued at $30,000. Cypress Capital Management LLC WY bought a new stake in AbbVie in the first quarter valued at $35,000. Finally, Inlight Wealth Management LLC acquired a new position in AbbVie in the first quarter worth $42,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the transaction, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. This trade represents a 19.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction 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 transaction, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Performance

ABBV opened at $234.07 on Friday. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $244.81. The stock has a market cap of $413.49 billion, a price-to-earnings ratio of 111.46, a PEG ratio of 1.37 and a beta of 0.51. The business has a 50 day moving average of $210.77 and a 200-day moving average of $195.90. 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 (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The business 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%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.65 earnings per share. On average, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.8%. AbbVie’s dividend payout ratio (DPR) is 312.38%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ABBV. BMO Capital Markets boosted their price objective on AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, September 12th. Piper Sandler initiated coverage on AbbVie in a report on Tuesday, August 12th. They issued an “overweight” rating and a $231.00 price objective for the company. Berenberg Bank upgraded AbbVie from a “hold” rating to a “buy” rating and upped their price objective for the company from $170.00 to $270.00 in a report on Wednesday, September 17th. Hsbc Global Res downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of AbbVie in a report on Saturday, September 27th. Four analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $228.22.

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.