AbbVie Inc. (NYSE:ABBV) Stake Cut by Guyasuta Investment Advisors Inc.

Guyasuta Investment Advisors Inc. trimmed its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 4.9% during the first quarter, according to the company in its most recent 13F 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of AbbVie by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock valued at $30,754,908,000 after acquiring an additional 1,424,237 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of AbbVie by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock valued at $6,586,948,000 after acquiring an additional 983,888 shares during the last quarter. Capital Research Global Investors increased its stake in shares of AbbVie by 2.3% during the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock valued at $6,038,898,000 after acquiring an additional 778,126 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of AbbVie by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after acquiring an additional 3,599,336 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of AbbVie during the 4th quarter valued at about $4,459,385,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.08% of the company's stock.

AbbVie Stock Down 0.7%

NYSE:ABBV traded down $1.38 during trading hours on Monday, hitting $183.92. The stock had a trading volume of 5,156,818 shares, compared to its average volume of 6,239,827. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The company has a market cap of $324.88 billion, a PE ratio of 78.26, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50. The business has a 50 day simple moving average of $185.19 and a two-hundred day simple moving average of $187.78.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter last year, the company earned $2.31 earnings per share. The business's quarterly revenue was up 8.4% compared to the same quarter last year. Analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's payout ratio is currently 279.15%.

Analysts Set New Price Targets

A number of research firms recently issued reports on ABBV. Guggenheim increased their target price on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Citigroup increased their target price on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Wells Fargo & Company increased their target price on shares of AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and a consensus target price of $211.29.

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.