AbbVie Inc (ABBV) Shares Bought by Farmers & Merchants Trust Co of Chambersburg PA

Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of AbbVie Inc (NYSE:ABBV) by 7.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,650 shares of the company’s stock after purchasing an additional 575 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in AbbVie were worth $801,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Fairfield Bush & CO. acquired a new position in AbbVie during the first quarter worth about $146,000. We Are One Seven LLC acquired a new position in AbbVie during the fourth quarter worth about $148,000. First Mercantile Trust Co. acquired a new position in AbbVie during the second quarter worth about $150,000. Centaurus Financial Inc. acquired a new position in AbbVie during the first quarter worth about $153,000. Finally, Wagner Wealth Management LLC acquired a new position in AbbVie during the fourth quarter worth about $154,000. 69.37% of the stock is currently owned by institutional investors.

In other AbbVie news, EVP Michael Severino sold 50,000 shares of the firm’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the completion of the sale, the executive vice president now directly owns 111,481 shares in the company, valued at approximately $10,871,627.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Glenn F. Tilton acquired 5,400 shares of the firm’s stock in a transaction on Wednesday, June 27th. The shares were acquired at an average price of $91.90 per share, with a total value of $496,260.00. Following the completion of the transaction, the director now directly owns 39,735 shares in the company, valued at approximately $3,651,646.50. The disclosure for this purchase can be found here. Company insiders own 0.07% of the company’s stock.

A number of research analysts recently issued reports on ABBV shares. Goldman Sachs Group lowered AbbVie from a “conviction-buy” rating to a “buy” rating in a report on Thursday, May 24th. Argus lowered their target price on AbbVie from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Monday, June 11th. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a report on Wednesday, June 27th. Jefferies Financial Group set a $100.00 target price on AbbVie and gave the stock a “buy” rating in a report on Sunday, July 15th. Finally, Cowen set a $110.00 target price on AbbVie and gave the stock a “buy” rating in a report on Friday, July 27th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $106.31.

NYSE:ABBV opened at $95.68 on Friday. The company has a debt-to-equity ratio of -9.06, a current ratio of 0.80 and a quick ratio of 0.71. AbbVie Inc has a 1-year low of $83.19 and a 1-year high of $125.86. The firm has a market capitalization of $141.19 billion, a P/E ratio of 13.79, a P/E/G ratio of 0.85 and a beta of 1.54.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 27th. The company reported $2.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.02. AbbVie had a return on equity of 362.05% and a net margin of 20.84%. The business had revenue of $8.28 billion during the quarter, compared to analyst estimates of $8.22 billion. During the same quarter last year, the company posted $1.42 EPS. AbbVie’s revenue for the quarter was up 19.2% on a year-over-year basis. research analysts expect that AbbVie Inc will post 7.86 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be given a $0.96 dividend. The ex-dividend date of this dividend is Friday, October 12th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.01%. AbbVie’s dividend payout ratio (DPR) is 68.57%.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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