Home Federal Bank of Tennessee Purchases 326 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Markets Daily

Home Federal Bank of Tennessee grew its holdings in AbbVie Inc. (NYSE:ABBV – Free Report) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,021 shares of the company’s stock after purchasing an additional 326 shares during the quarter. AbbVie makes up approximately 1.0% of Home Federal Bank of Tennessee’s holdings, making the stock its 14th biggest holding. Home Federal Bank of Tennessee’s holdings in AbbVie were worth $3,559,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. AdvisorNet Financial Inc lifted its holdings in AbbVie by 28.4% during the first quarter. AdvisorNet Financial Inc now owns 4,524 shares of the company’s stock worth $824,000 after acquiring an additional 1,000 shares in the last quarter. West Coast Financial LLC boosted its stake in AbbVie by 9.7% in the 1st quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock worth $287,000 after purchasing an additional 140 shares during the period. Community Bank of Raymore increased its holdings in AbbVie by 2.7% during the 1st quarter. Community Bank of Raymore now owns 22,648 shares of the company’s stock worth $4,124,000 after purchasing an additional 600 shares in the last quarter. New England Professional Planning Group Inc. acquired a new stake in AbbVie in the 1st quarter valued at $228,000. Finally, Hoxton Planning & Management LLC boosted its stake in shares of AbbVie by 11.8% during the 1st quarter. Hoxton Planning & Management LLC now owns 1,537 shares of the company’s stock worth $280,000 after buying an additional 162 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 0.3 %

ABBV traded up $0.48 during midday trading on Tuesday, hitting $187.02. 367,589 shares of the company were exchanged, compared to its average volume of 5,273,181. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $199.95. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The firm has a market capitalization of $330.25 billion, a P/E ratio of 55.38, a P/E/G ratio of 2.66 and a beta of 0.63. The firm’s 50 day moving average price is $194.37 and its 200-day moving average price is $177.88.

AbbVie (NYSE:ABBV – Get Free Report) last released its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.91 EPS. As a group, equities analysts forecast that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Insider Activity

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the sale, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ABBV shares. Bank of America upped their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday. Wells Fargo & Company raised their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Barclays boosted their price objective on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Piper Sandler lifted their price target on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley boosted their price target on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $198.47.

Get Our Latest Research Report on AbbVie

AbbVie Company Profile

(Free Report)

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.

See Also

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