Community Bank N.A. Has $8.38 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Community Bank N.A. cut its holdings in AbbVie Inc. (NYSE:ABBV) by 3.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,090 shares of the company’s stock after selling 1,755 shares during the quarter. AbbVie makes up 1.1% of Community Bank N.A.’s holdings, making the stock its 18th biggest holding. Community Bank N.A.’s holdings in AbbVie were worth $8,382,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Blue Bell Private Wealth Management LLC raised its position in AbbVie by 39.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock valued at $43,000 after purchasing an additional 81 shares during the last quarter. Horrell Capital Management Inc. bought a new position in AbbVie in the third quarter valued at about $45,000. Core Wealth Advisors Inc. raised its position in AbbVie by 459.7% in the third quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock valued at $52,000 after purchasing an additional 285 shares during the last quarter. Bourgeon Capital Management LLC raised its position in AbbVie by 240.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after purchasing an additional 240 shares during the last quarter. Finally, Naples Money Management LLC bought a new position in AbbVie in the fourth quarter valued at about $53,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the sale, the chief executive officer now owns 519,099 shares in the company, valued at $92,020,679.73. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s 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 completion of the sale, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the sale, the chief executive officer now owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 over the last quarter. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Guggenheim raised their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Truist Financial raised their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Barclays raised their price objective on AbbVie from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Finally, Raymond James raised their price objective on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $177.43.

AbbVie Trading Down 1.0 %

ABBV traded down $1.71 during trading on Wednesday, hitting $167.83. The company’s stock had a trading volume of 4,074,754 shares, compared to its average volume of 5,594,750. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The stock’s fifty day moving average price is $175.13 and its 200-day moving average price is $160.62. The firm has a market capitalization of $297.17 billion, a P/E ratio of 61.48, a PEG ratio of 2.16 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.03. The firm had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.60 earnings per share. Analysts anticipate that AbbVie Inc. will post 11.16 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.69%. AbbVie’s dividend payout ratio is 227.11%.

AbbVie Company 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.