Strategic Financial Services Inc. Sells 190 Shares of AbbVie Inc. $ABBV

Strategic Financial Services Inc. decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 4.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,084 shares of the company’s stock after selling 190 shares during the period. Strategic Financial Services Inc.’s holdings in AbbVie were worth $856,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ABBV. GAMMA Investing LLC increased its stake in shares of AbbVie by 25,841.6% in the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company’s stock valued at $2,144,382,000 after purchasing an additional 10,195,284 shares during the last quarter. Nuveen LLC bought a new position in shares of AbbVie in the 1st quarter valued at $1,819,154,000. Goldman Sachs Group Inc. increased its stake in shares of AbbVie by 31.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after purchasing an additional 3,519,187 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of AbbVie by 18.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,058,706 shares of the company’s stock valued at $2,142,832,000 after acquiring an additional 1,882,780 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of AbbVie by 147.6% during the 1st quarter. Bessemer Group Inc. now owns 2,752,953 shares of the company’s stock valued at $576,800,000 after acquiring an additional 1,641,091 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the transaction, the executive vice president directly owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the transaction, the executive vice president directly 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 disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.7%

Shares of ABBV opened at $211.84 on Thursday. The company has a market capitalization of $374.23 billion, a PE ratio of 100.88, a PEG ratio of 1.35 and a beta of 0.53. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The stock’s 50-day moving average price is $199.06 and its two-hundred day moving average price is $194.37. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14.

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

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.1%. AbbVie’s dividend payout ratio (DPR) is 312.38%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Daiwa Capital Markets raised AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective on the stock in a report on Thursday, August 7th. Morgan Stanley raised their price objective on AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Guggenheim raised their price objective on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a report on Friday, August 1st. Bank of America raised their price objective on AbbVie to $204.00 and gave the company a “hold” rating in a report on Monday, June 9th. Finally, Raymond James Financial reissued an “outperform” rating on shares of AbbVie in a report on Monday, August 25th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.95.

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.