Mitchell Sinkler & Starr PA Has $2.51 Million Holdings in AbbVie Inc. $ABBV

Mitchell Sinkler & Starr PA reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,497 shares of the company’s stock after selling 55 shares during the quarter. AbbVie accounts for approximately 1.2% of Mitchell Sinkler & Starr PA’s holdings, making the stock its 23rd biggest position. Mitchell Sinkler & Starr PA’s holdings in AbbVie were worth $2,505,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. LRI Investments LLC raised its stake in AbbVie by 1.0% during the 2nd quarter. LRI Investments LLC now owns 15,067 shares of the company’s stock valued at $2,797,000 after purchasing an additional 148 shares during the last quarter. Prostatis Group LLC raised its stake in AbbVie by 6.0% during the 2nd quarter. Prostatis Group LLC now owns 1,551 shares of the company’s stock valued at $288,000 after purchasing an additional 88 shares during the last quarter. Commonwealth Financial Services LLC raised its stake in AbbVie by 2.8% during the 2nd quarter. Commonwealth Financial Services LLC now owns 6,402 shares of the company’s stock valued at $1,188,000 after purchasing an additional 175 shares during the last quarter. Orca Investment Management LLC raised its stake in AbbVie by 1.9% during the 2nd quarter. Orca Investment Management LLC now owns 4,864 shares of the company’s stock valued at $903,000 after purchasing an additional 93 shares during the last quarter. Finally, CWM LLC raised its stake in AbbVie by 4.6% during the 2nd quarter. CWM LLC now owns 323,383 shares of the company’s stock valued at $60,026,000 after purchasing an additional 14,132 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the sale, the executive vice president owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 177,292 shares in the company, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Up 0.1%

ABBV opened at $230.88 on Friday. The firm’s 50-day simple moving average is $214.84 and its 200-day simple moving average is $196.76. 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 Inc. has a twelve month low of $163.81 and a twelve month high of $244.81. The firm has a market cap of $407.86 billion, a price-to-earnings ratio of 109.94, a PEG ratio of 1.35 and a beta of 0.51.

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

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued 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 2.8%. AbbVie’s dividend payout ratio is presently 312.38%.

Analyst Upgrades and Downgrades

ABBV has been the subject of several research analyst reports. Cantor Fitzgerald set a $250.00 target price on shares of AbbVie and gave the company an “overweight” rating in a research note on Thursday. Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Daiwa Capital Markets upgraded shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective for the company in a research note on Thursday, August 7th. Bank of America increased their price objective on shares of AbbVie from $220.00 to $251.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Finally, UBS Group set a $251.00 price objective on shares of AbbVie in a research note on Friday, October 3rd. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $231.90.

AbbVie 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.