First American Trust FSB Raises Position in AbbVie Inc. (ABBV)

First American Trust FSB increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 36.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,821 shares of the company’s stock after acquiring an additional 1,300 shares during the quarter. First American Trust FSB’s holdings in AbbVie were worth $349,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Bollard Group LLC boosted its position in shares of AbbVie by 0.5% during the first quarter. Bollard Group LLC now owns 3,745 shares of the company’s stock worth $244,000 after acquiring an additional 20 shares during the last quarter. TRUE Private Wealth Advisors boosted its position in shares of AbbVie by 0.5% during the first quarter. TRUE Private Wealth Advisors now owns 4,787 shares of the company’s stock worth $313,000 after acquiring an additional 24 shares during the last quarter. St. Louis Trust Co boosted its position in shares of AbbVie by 0.7% during the first quarter. St. Louis Trust Co now owns 3,388 shares of the company’s stock worth $221,000 after acquiring an additional 25 shares during the last quarter. Stratford Consulting LLC boosted its position in shares of AbbVie by 0.7% during the first quarter. Stratford Consulting LLC now owns 3,959 shares of the company’s stock worth $258,000 after acquiring an additional 29 shares during the last quarter. Finally, K.J. Harrison & Partners Inc boosted its position in shares of AbbVie by 0.6% during the first quarter. K.J. Harrison & Partners Inc now owns 5,031 shares of the company’s stock worth $328,000 after acquiring an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 68.29% of the company’s stock.

AbbVie Inc. (NYSE ABBV) traded down 2.25% during midday trading on Friday, hitting $87.21. 8,647,718 shares of the stock traded hands. AbbVie Inc. has a 52-week low of $55.06 and a 52-week high of $89.69. The firm has a market cap of $139.02 billion, a PE ratio of 21.45 and a beta of 1.48. The stock has a 50-day moving average of $74.42 and a 200 day moving average of $69.26.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.02. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The business had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the prior year, the firm earned $1.26 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts forecast that AbbVie Inc. will post $5.52 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be given a dividend of $0.64 per share. The ex-dividend date is Thursday, October 12th. This represents a $2.56 annualized dividend and a dividend yield of 2.87%. AbbVie’s payout ratio is 62.90%.

In other news, insider Henry O. Gosebruch sold 18,000 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $70.09, for a total transaction of $1,261,620.00. Following the transaction, the insider now owns 96,074 shares of the company’s stock, valued at approximately $6,733,826.66. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Edward J. Rapp purchased 4,000 shares of the stock in a transaction dated Monday, July 31st. The shares were purchased at an average cost of $70.45 per share, for a total transaction of $281,800.00. Following the transaction, the director now owns 15,498 shares in the company, valued at approximately $1,091,834.10. The disclosure for this purchase can be found here. In the last three months, insiders have sold 373,191 shares of company stock worth $26,598,305. Corporate insiders own 0.23% of the company’s stock.

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ABBV has been the subject of a number of research reports. Credit Suisse Group restated a “hold” rating and set a $65.00 target price on shares of AbbVie in a research report on Wednesday, June 7th. Zacks Investment Research lowered shares of AbbVie from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. BidaskClub upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 6th. Societe Generale upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Finally, Vetr lowered shares of AbbVie from a “buy” rating to a “hold” rating and set a $76.28 price objective for the company. in a research report on Thursday, July 20th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $82.38.

AbbVie Company Profile

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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