Mitchell Sinkler & Starr PA Sells 1,432 Shares of AbbVie Inc. (NYSE:ABBV)

Key Points

• Mitchell Sinkler & Starr PA reduced its holdings in AbbVie Inc. by 9.6%, owning 13,552 shares valued at approximately $2.84 million after selling 1,432 shares in the first quarter.
• AbbVie reported a net revenue of $13.34 billion for the recent quarter, exceeding analyst expectations, and it achieved an earnings per share (EPS) of $2.46, surpassing estimates by $0.06.
• The company announced a quarterly dividend of $1.64 per share, resulting in an annualized dividend yield of 3.45% with a payout ratio of 279.15%.

Mitchell Sinkler & Starr PA lowered its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 9.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,552 shares of the company's stock after selling 1,432 shares during the quarter. Mitchell Sinkler & Starr PA's holdings in AbbVie were worth $2,839,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Steel Grove Capital Advisors LLC raised its stake in shares of AbbVie by 1.7% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock valued at $553,000 after acquiring an additional 52 shares in the last quarter. Peninsula Wealth LLC raised its stake in shares of AbbVie by 4.1% in the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock valued at $242,000 after acquiring an additional 54 shares in the last quarter. Private Management Group Inc. raised its stake in shares of AbbVie by 1.9% in the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock valued at $616,000 after acquiring an additional 54 shares in the last quarter. Connecticut Wealth Management LLC raised its stake in shares of AbbVie by 1.6% in the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock valued at $660,000 after acquiring an additional 57 shares in the last quarter. Finally, Castle Wealth Management LLC grew its holdings in AbbVie by 3.4% in the 1st quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock valued at $361,000 after buying an additional 57 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Price Performance

ABBV traded down $0.35 during trading on Thursday, hitting $188.97. The company's stock had a trading volume of 5,869,762 shares, compared to its average volume of 6,836,205. The stock has a market capitalization of $333.79 billion, a price-to-earnings ratio of 80.68, a price-to-earnings-growth ratio of 1.26 and a beta of 0.48. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The firm's 50 day moving average price is $187.97 and its two-hundred day moving average price is $189.95.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). AbbVie had a net margin of 7.31% and a return on equity of 412.03%. During the same period in the prior year, the company posted $2.65 earnings per share. The firm's quarterly revenue was up 6.6% on a year-over-year basis. Sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.47%. AbbVie's dividend payout ratio is currently 279.15%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ABBV shares. BNP Paribas raised AbbVie to a "hold" rating in a report on Thursday, May 8th. Citigroup raised their target price on AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Cantor Fitzgerald assumed coverage on AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective on the stock. Morgan Stanley lifted their price objective on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Finally, Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock 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.