AbbVie Inc. (NYSE:ABBV) Stock Holdings Lowered by Mitchell Sinkler & Starr PA

Mitchell Sinkler & Starr PA reduced its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 46.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,984 shares of the company's stock after selling 13,165 shares during the quarter. Mitchell Sinkler & Starr PA's holdings in AbbVie were worth $2,663,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Groupama Asset Managment raised its holdings in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock worth $27,000 after acquiring an additional 38,974 shares during the last quarter. Fiduciary Advisors Inc. acquired a new position in AbbVie in the 4th quarter valued at about $29,000. Promus Capital LLC acquired a new position in AbbVie in the 4th quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new position in AbbVie in the 4th quarter valued at about $31,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of AbbVie during the 4th quarter worth about $35,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ABBV. Piper Sandler Companies reissued an "overweight" rating and issued a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Truist Financial boosted their price target on AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Daiwa America downgraded AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Thursday, December 5th. BMO Capital Markets increased their target price on AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Finally, Citigroup raised their price target on AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.45.

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Insider Transactions at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the transaction, the senior vice president now owns 11,496 shares of the company's stock, valued at approximately $2,338,401.36. The trade was a 62.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,639 shares of company stock valued at $11,067,025. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Up 2.2 %

NYSE ABBV traded up $4.54 on Monday, reaching $209.83. The company had a trading volume of 6,524,849 shares, compared to its average volume of 5,725,871. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The firm has a 50-day moving average of $197.50 and a 200-day moving average of $188.91. The firm has a market capitalization of $371.19 billion, a PE ratio of 87.43, a P/E/G ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 quarter in the previous year, the company earned $2.79 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio is currently 273.33%.

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.