River Street Advisors LLC Sells 59 Shares of AbbVie Inc. $ABBV

River Street Advisors LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,273 shares of the company’s stock after selling 59 shares during the quarter. AbbVie accounts for approximately 0.9% of River Street Advisors LLC’s portfolio, making the stock its 29th largest holding. River Street Advisors LLC’s holdings in AbbVie were worth $2,093,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Hilltop National Bank bought a new position in shares of AbbVie during the second quarter valued at about $941,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of AbbVie by 12.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 798,259 shares of the company’s stock worth $148,173,000 after purchasing an additional 85,260 shares during the period. Mechanics Financial Corp boosted its holdings in shares of AbbVie by 0.8% during the second quarter. Mechanics Financial Corp now owns 8,440 shares of the company’s stock worth $1,567,000 after purchasing an additional 65 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of AbbVie by 12.7% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 5,007 shares of the company’s stock worth $929,000 after purchasing an additional 566 shares during the period. Finally, J. Safra Sarasin Holding AG boosted its holdings in shares of AbbVie by 110.3% during the second quarter. J. Safra Sarasin Holding AG now owns 284,751 shares of the company’s stock worth $52,829,000 after purchasing an additional 149,378 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Price Performance

Shares of ABBV opened at $236.98 on Friday. The company has a market capitalization of $418.63 billion, a P/E ratio of 112.85, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The firm has a 50 day moving average of $209.90 and a 200 day moving average of $195.87. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $244.81.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. AbbVie’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the business earned $2.65 EPS. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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

Insider Activity at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the sale, the executive vice president owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ABBV shares. Citigroup increased their target price on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday, June 11th. Piper Sandler started coverage on shares of AbbVie in a report on Tuesday, August 12th. They set an “overweight” rating and a $231.00 target price for the company. Raymond James Financial reiterated an “outperform” rating on shares of AbbVie in a report on Monday, August 25th. Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Finally, Cantor Fitzgerald raised their price objective on shares of AbbVie from $215.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $223.52.

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.