Mitchell Sinkler & Starr PA Has $2.66 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Mitchell Sinkler & Starr PA lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 46.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 reporting period.

Several other institutional investors also recently modified their holdings of the business. Groupama Asset Managment grew its position in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares during the period. Fiduciary Advisors Inc. bought a new stake in AbbVie in the fourth quarter valued at approximately $29,000. Promus Capital LLC bought a new position in shares of AbbVie during the fourth quarter worth $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie during the fourth quarter worth about $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

In other news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. This represents a 62.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,639 shares of company stock worth $11,067,025. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of AbbVie stock opened at $205.12 on Friday. The company has a 50 day moving average of $197.50 and a 200-day moving average of $189.02. The company has a market cap of $362.85 billion, a PE ratio of 85.47, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. 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 Inc. has a 1-year low of $153.58 and a 1-year high of $218.66.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the company posted $2.79 earnings per share. As a group, equities 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 announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.20%. AbbVie’s dividend payout ratio (DPR) is currently 273.33%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ABBV shares. Truist Financial increased their price objective on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. UBS Group lifted their price target on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Citigroup upped their price objective on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. BMO Capital Markets lifted their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

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.