Community Trust & Investment Co. Has $4.01 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Community Trust & Investment Co. lifted its position in AbbVie Inc. (NYSE:ABBV) by 10.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,318 shares of the company’s stock after acquiring an additional 1,840 shares during the quarter. Community Trust & Investment Co.’s holdings in AbbVie were worth $4,012,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. FCG Investment Co acquired a new stake in shares of AbbVie during the first quarter worth approximately $1,413,000. BluePath Capital Management LLC grew its holdings in shares of AbbVie by 0.9% during the 1st quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock valued at $1,331,000 after acquiring an additional 67 shares in the last quarter. Palisade Asset Management LLC increased its stake in shares of AbbVie by 65.6% in the first quarter. Palisade Asset Management LLC now owns 97,341 shares of the company’s stock worth $17,726,000 after acquiring an additional 38,562 shares during the last quarter. First Hawaiian Bank raised its holdings in shares of AbbVie by 9.0% during the second quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock worth $5,506,000 after acquiring an additional 2,657 shares in the last quarter. Finally, PGGM Investments boosted its position in AbbVie by 308.1% during the second quarter. PGGM Investments now owns 32,790 shares of the company’s stock valued at $5,624,000 after purchasing an additional 24,756 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 1.2 %

Shares of ABBV stock opened at $188.78 on Wednesday. The firm has a market capitalization of $333.36 billion, a P/E ratio of 56.02, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The firm’s fifty day simple moving average is $194.32 and its 200 day simple moving average is $178.01. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter in the previous year, the firm posted $2.91 EPS. The business’s revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Tuesday, October 15th. AbbVie’s payout ratio is presently 183.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company raised their price target on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Morgan Stanley raised their price objective on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Piper Sandler boosted their target price on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. TD Cowen increased their price target on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Finally, UBS Group lifted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $198.47.

Insider Activity

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by company insiders.

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.