Guyasuta Investment Advisors Inc. Decreases Holdings in AbbVie Inc. (NYSE:ABBV)

Guyasuta Investment Advisors Inc. trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 4.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,888 shares of the company’s stock after selling 1,489 shares during the period. Guyasuta Investment Advisors Inc.’s holdings in AbbVie were worth $6,053,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ABBV. North Point Portfolio Managers Corp OH purchased a new position in AbbVie in the 1st quarter worth approximately $518,000. Childress Capital Advisors LLC increased its stake in AbbVie by 1.4% in the 1st quarter. Childress Capital Advisors LLC now owns 6,643 shares of the company’s stock worth $1,392,000 after purchasing an additional 89 shares during the period. MinichMacGregor Wealth Management LLC increased its stake in AbbVie by 13.2% in the 1st quarter. MinichMacGregor Wealth Management LLC now owns 2,866 shares of the company’s stock worth $600,000 after purchasing an additional 335 shares during the period. Synergy Asset Management LLC increased its stake in AbbVie by 15.7% in the 1st quarter. Synergy Asset Management LLC now owns 10,159 shares of the company’s stock worth $2,129,000 after purchasing an additional 1,378 shares during the period. Finally, Buck Wealth Strategies LLC purchased a new position in AbbVie in the 1st quarter worth approximately $310,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Down 0.2%

NYSE ABBV opened at $185.16 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a twelve month low of $163.52 and a twelve month high of $218.66. The firm has a market capitalization of $327.06 billion, a PE ratio of 78.79, a P/E/G ratio of 1.23 and a beta of 0.50. The stock’s 50 day moving average is $185.19 and its 200 day moving average is $187.70.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same period in the previous year, the company posted $2.31 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. Research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.54%. AbbVie’s dividend payout ratio is presently 279.15%.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ABBV has been the topic of a number of analyst reports. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Bank of America lifted their price target on AbbVie to $204.00 and gave the stock a “hold” rating in a research note on Monday, June 9th. Evercore ISI lifted their price target on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Finally, BNP Paribas upgraded AbbVie to a “hold” rating in a research report on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

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.