AbbVie Inc. $ABBV Shares Acquired by AMG National Trust Bank

AMG National Trust Bank boosted its position in AbbVie Inc. (NYSE:ABBV) by 20.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,977 shares of the company’s stock after purchasing an additional 4,710 shares during the quarter. AMG National Trust Bank’s holdings in AbbVie were worth $6,085,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Procyon Advisors LLC lifted its stake in AbbVie by 19.9% in the 4th quarter. Procyon Advisors LLC now owns 32,752 shares of the company’s stock worth $7,484,000 after acquiring an additional 5,427 shares in the last quarter. Waycross Partners LLC boosted its holdings in shares of AbbVie by 2.9% during the fourth quarter. Waycross Partners LLC now owns 182,476 shares of the company’s stock worth $41,694,000 after purchasing an additional 5,063 shares during the period. Calamos Advisors LLC grew its position in AbbVie by 3.4% during the fourth quarter. Calamos Advisors LLC now owns 466,290 shares of the company’s stock valued at $106,543,000 after purchasing an additional 15,458 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in AbbVie by 11.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 636,710 shares of the company’s stock valued at $143,026,000 after buying an additional 66,720 shares during the period. Finally, Axecap Investments LLC boosted its stake in shares of AbbVie by 713.2% during the 4th quarter. Axecap Investments LLC now owns 16,320 shares of the company’s stock valued at $3,729,000 after buying an additional 14,313 shares during the period. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ABBV. UBS Group boosted their target price on AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 5th. Royal Bank Of Canada increased their price target on shares of AbbVie from $260.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday. DZ Bank upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, Guggenheim upped their price target on AbbVie from $249.00 to $261.00 and gave the stock a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.24.

AbbVie Price Performance

Shares of AbbVie stock opened at $248.06 on Tuesday. The firm has a fifty day moving average price of $226.15 and a two-hundred day moving average price of $221.34. The company has a market cap of $438.27 billion, a PE ratio of 122.20, a price-to-earnings-growth ratio of 0.81 and a beta of 0.30. AbbVie Inc. has a fifty-two week low of $184.63 and a fifty-two week high of $261.64.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.72 billion. During the same period in the prior year, the company posted $2.46 earnings per share. AbbVie’s revenue was up 12.4% on a year-over-year basis. Analysts expect that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be paid a $1.73 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $6.92 annualized dividend and a yield of 2.8%. AbbVie’s payout ratio is currently 340.89%.

AbbVie Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.