SS&H Financial Advisors Inc. Sells 150 Shares of AbbVie Inc. (NYSE:ABBV)

SS&H Financial Advisors Inc. decreased its stake in AbbVie Inc. (NYSE:ABBV) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,274 shares of the company’s stock after selling 150 shares during the quarter. AbbVie accounts for about 3.0% of SS&H Financial Advisors Inc.’s portfolio, making the stock its 5th largest position. SS&H Financial Advisors Inc.’s holdings in AbbVie were worth $8,151,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in AbbVie by 6.2% in the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after acquiring an additional 9,978,415 shares during the period. Capital World Investors grew its position in shares of AbbVie by 249.1% in the 1st quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock valued at $796,357,000 after purchasing an additional 3,120,310 shares during the period. Capital International Investors increased its stake in AbbVie by 6.9% during the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after purchasing an additional 3,110,601 shares in the last quarter. TD Asset Management Inc raised its holdings in AbbVie by 156.0% during the 1st quarter. TD Asset Management Inc now owns 3,474,020 shares of the company’s stock worth $632,619,000 after buying an additional 2,116,997 shares during the period. Finally, Swedbank AB bought a new stake in AbbVie in the 1st quarter valued at $367,372,000. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ABBV. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. BMO Capital Markets increased their target price on shares of AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Truist Financial boosted their price target on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group raised their price objective on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, TD Cowen upped their target price on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.00.

AbbVie Price Performance

NYSE:ABBV traded down $0.17 during trading hours on Thursday, reaching $194.58. 600,806 shares of the company were exchanged, compared to its average volume of 5,301,785. The business has a 50 day moving average of $193.89 and a 200 day moving average of $177.18. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $199.95. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The company has a market capitalization of $343.60 billion, a P/E ratio of 57.63, a P/E/G ratio of 2.65 and a beta of 0.63.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter in the previous year, the firm earned $2.91 earnings per share. AbbVie’s revenue for the quarter was up 4.3% compared to the same quarter last year. Research analysts forecast that AbbVie Inc. will post 10.86 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.19%. The ex-dividend date is Tuesday, October 15th. AbbVie’s payout ratio is presently 183.98%.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the transaction, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the transaction, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

About AbbVie

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.