Cambridge Trust Co. Boosts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Cambridge Trust Co. increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% in the 4th quarter, HoldingsChannel reports. The firm owned 27,819 shares of the company’s stock after purchasing an additional 119 shares during the period. Cambridge Trust Co.’s holdings in AbbVie were worth $4,311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ABBV. Retirement Income Solutions Inc purchased a new position in AbbVie in the first quarter valued at about $204,000. Ergoteles LLC increased its holdings in AbbVie by 17.8% in the first quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock valued at $909,000 after buying an additional 847 shares in the last quarter. First Western Trust Bank purchased a new position in AbbVie in the first quarter valued at about $1,150,000. Wsfs Capital Management LLC purchased a new position in AbbVie in the first quarter valued at about $562,000. Finally, Bridgewater Associates LP increased its holdings in AbbVie by 80.4% in the first quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock valued at $12,242,000 after buying an additional 33,661 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the transaction, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the sale, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 in the last quarter. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on ABBV. Barclays increased their target price on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Guggenheim raised their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. BMO Capital Markets raised their price objective on shares of AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, Raymond James raised their price objective on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $177.43.

AbbVie Trading Up 0.4 %

Shares of ABBV traded up $0.70 during mid-day trading on Thursday, reaching $164.95. The company had a trading volume of 2,619,343 shares, compared to its average volume of 5,611,777. The stock has a market cap of $292.07 billion, a price-to-earnings ratio of 60.89, a price-to-earnings-growth ratio of 2.09 and a beta of 0.58. The firm has a fifty day simple moving average of $175.79 and a 200-day simple moving average of $159.94. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. The company had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. AbbVie’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the business earned $3.60 EPS. On average, sell-side analysts anticipate that AbbVie Inc. will post 11.17 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.76%. AbbVie’s dividend payout ratio (DPR) is presently 227.11%.

AbbVie 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.