Stock Yards Bank & Trust Co. Has $4.04 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Stock Yards Bank & Trust Co. lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,321 shares of the company’s stock after selling 974 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in AbbVie were worth $4,039,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Joseph P. Lucia & Associates LLC bought a new position in shares of AbbVie in the fourth quarter worth $29,000. Alpha DNA Investment Management LLC acquired a new position in AbbVie in the fourth quarter valued at approximately $33,000. McClarren Financial Advisors Inc. acquired a new position in AbbVie in the fourth quarter valued at approximately $38,000. JJJ Advisors Inc. increased its holdings in shares of AbbVie by 260.8% during the fourth quarter. JJJ Advisors Inc. now owns 368 shares of the company’s stock valued at $39,000 after acquiring an additional 266 shares in the last quarter. Finally, Catalyst Private Wealth LLC bought a new stake in shares of AbbVie during the third quarter valued at approximately $42,000. 67.49% of the stock is owned by institutional investors.

Several brokerages recently issued reports on ABBV. SVB Leerink upped their price target on AbbVie from $140.00 to $144.00 and gave the stock an “outperform” rating in a report on Tuesday, March 30th. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $114.00 price objective for the company in a research note on Tuesday, February 9th. Mizuho upped their price objective on AbbVie from $117.00 to $126.00 and gave the company a “buy” rating in a research note on Thursday, February 4th. They noted that the move was a valuation call. Morgan Stanley reduced their price objective on AbbVie from $120.00 to $116.00 and set an “overweight” rating for the company in a research note on Thursday, January 28th. Finally, Royal Bank of Canada began coverage on AbbVie in a research note on Wednesday, April 7th. They issued a $135.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $115.65.

In other AbbVie news, SVP Elaine K. Sorg sold 8,440 shares of the business’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $108.61, for a total transaction of $916,668.40. Following the sale, the senior vice president now directly owns 26,035 shares of the company’s stock, valued at $2,827,661.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard A. Gonzalez sold 170,113 shares of the business’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $108.61, for a total value of $18,475,972.93. Following the sale, the chief executive officer now directly owns 450,981 shares in the company, valued at $48,981,046.41. The disclosure for this sale can be found here. Insiders have sold 198,067 shares of company stock worth $21,511,667 over the last three months. 0.09% of the stock is currently owned by insiders.

NYSE ABBV traded up $0.84 on Thursday, hitting $106.74. The company’s stock had a trading volume of 96,731 shares, compared to its average volume of 7,457,509. AbbVie Inc. has a 52-week low of $79.11 and a 52-week high of $113.41. The company has a current ratio of 0.95, a quick ratio of 0.81 and a debt-to-equity ratio of 5.38. The company’s 50-day simple moving average is $106.82 and its 200 day simple moving average is $101.66. The firm has a market cap of $188.38 billion, a P/E ratio of 22.39, a PEG ratio of 1.54 and a beta of 0.84.

AbbVie (NYSE:ABBV) last released its earnings results on Tuesday, February 2nd. The company reported $2.92 EPS for the quarter, beating the Zacks’ consensus estimate of $2.85 by $0.07. The company had revenue of $13.86 billion during the quarter, compared to analysts’ expectations of $13.70 billion. AbbVie had a return on equity of 439.24% and a net margin of 18.16%. The firm’s revenue for the quarter was up 59.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 EPS. On average, research analysts forecast that AbbVie Inc. will post 10.48 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 14th. Stockholders of record on Thursday, April 15th will be given a $1.30 dividend. The ex-dividend date is Wednesday, April 14th. This represents a $5.20 annualized dividend and a dividend yield of 4.87%. AbbVie’s payout ratio is 58.17%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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