Community Bank & Trust Waco Texas Sells 123 Shares of AbbVie Inc. $ABBV

Community Bank & Trust Waco Texas reduced its stake in AbbVie Inc. (NYSE:ABBV) by 0.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 34,584 shares of the company’s stock after selling 123 shares during the quarter. AbbVie comprises 1.5% of Community Bank & Trust Waco Texas’ investment portfolio, making the stock its 23rd largest position. Community Bank & Trust Waco Texas’ holdings in AbbVie were worth $6,419,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ABBV. Brighton Jones LLC lifted its position in AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after buying an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after buying an additional 3,064 shares in the last quarter. Marquette Asset Management LLC lifted its position in AbbVie by 122.0% during the 1st quarter. Marquette Asset Management LLC now owns 444 shares of the company’s stock worth $93,000 after buying an additional 244 shares in the last quarter. Merit Financial Group LLC lifted its position in AbbVie by 19.9% during the 1st quarter. Merit Financial Group LLC now owns 59,033 shares of the company’s stock worth $12,369,000 after buying an additional 9,807 shares in the last quarter. Finally, Capital Asset Advisory Services LLC lifted its position in AbbVie by 7.5% during the 1st quarter. Capital Asset Advisory Services LLC now owns 19,828 shares of the company’s stock worth $4,068,000 after buying an additional 1,380 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Up 3.7%

Shares of ABBV opened at $231.47 on Wednesday. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $232.35. The firm has a market cap of $408.91 billion, a P/E ratio of 110.22, a price-to-earnings-growth ratio of 1.31 and a beta of 0.53. The firm’s 50-day simple moving average is $207.89 and its 200 day simple moving average is $195.37. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. During the same quarter last year, the company posted $2.65 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. On average, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be given a $1.64 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a yield of 2.8%. AbbVie’s dividend payout ratio (DPR) is currently 312.38%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Daiwa Capital Markets raised shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target on the stock in a research report on Thursday, August 7th. Raymond James Financial reissued an “outperform” rating on shares of AbbVie in a research report on Monday, August 25th. Evercore ISI upped their target price on shares of AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Daiwa America raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Finally, Citigroup upped their target price on shares of AbbVie to $205.00 and gave the company a “hold” rating in a report on Wednesday, June 11th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $223.45.

Insider Buying and Selling

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the transaction, the executive vice president owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the transaction, the executive vice president directly owned 177,292 shares of the company’s stock, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

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.