Mitchell Sinkler & Starr PA Sells 55 Shares of AbbVie Inc. $ABBV

Mitchell Sinkler & Starr PA lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 13,497 shares of the company’s stock after selling 55 shares during the period. AbbVie makes up approximately 1.2% of Mitchell Sinkler & Starr PA’s holdings, making the stock its 23rd biggest holding. Mitchell Sinkler & Starr PA’s holdings in AbbVie were worth $2,505,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Marshall & Sullivan Inc. WA bought a new position in shares of AbbVie in the 2nd quarter valued at about $25,000. TD Capital Management LLC boosted its stake in shares of AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Abound Financial LLC bought a new position in shares of AbbVie in the 1st quarter valued at about $30,000. Cypress Capital Management LLC WY bought a new position in shares of AbbVie in the 1st quarter valued at about $35,000. Finally, Bear Mountain Capital Inc. boosted its stake in shares of AbbVie by 480.6% in the 2nd quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after purchasing an additional 173 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $230.88 on Friday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The company has a market capitalization of $407.86 billion, a P/E ratio of 109.94, a price-to-earnings-growth ratio of 1.35 and a beta of 0.51. The company’s 50 day moving average price is $214.84 and its two-hundred day moving average price is $196.76. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81.

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 business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $2.65 earnings per share. On average, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 312.38%.

Insider Activity at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the sale, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. This trade represents a 19.29% 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.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. UBS Group set a $251.00 target price on shares of AbbVie in a research note on Friday, October 3rd. Guggenheim lifted their price objective on shares of AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Raymond James Financial reissued an “outperform” rating on shares of AbbVie in a research note on Monday, August 25th. HSBC set a $225.00 price objective on shares of AbbVie in a research note on Thursday, October 2nd. Finally, Evercore ISI lifted their price objective on shares of AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently 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.