Zions Bancorporation N.A. Purchases 20,560 Shares of AbbVie Inc. (NYSE:ABBV)

Zions Bancorporation N.A. boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 69.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 50,232 shares of the company’s stock after buying an additional 20,560 shares during the quarter. AbbVie makes up about 0.6% of Zions Bancorporation N.A.’s holdings, making the stock its 25th biggest holding. Zions Bancorporation N.A.’s holdings in AbbVie were worth $8,926,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ABBV. Groupama Asset Managment increased its stake in shares of AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after buying an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in AbbVie in the third quarter valued at $28,000. Fiduciary Advisors Inc. purchased a new position in AbbVie during the 4th quarter valued at $29,000. Promus Capital LLC purchased a new stake in shares of AbbVie in the 4th quarter worth about $30,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. This represents a 62.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,639 shares of company stock worth $11,067,025 over the last quarter. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

ABBV stock opened at $209.25 on Tuesday. The stock has a market capitalization of $369.40 billion, a PE ratio of 87.19, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The stock’s 50 day simple moving average is $195.14 and its 200 day simple moving average is $188.73. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period in the previous year, the firm earned $2.79 EPS. As a group, research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.14%. AbbVie’s payout ratio is 273.33%.

Analyst Ratings Changes

Several brokerages have commented on ABBV. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Guggenheim lifted their price target on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research report on Thursday, December 5th. Finally, Bank of America increased their price target on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

About AbbVie

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.