Stiles Financial Services Inc Has $608,000 Position in AbbVie Inc. $ABBV

Stiles Financial Services Inc lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 3,277 shares of the company’s stock after selling 90 shares during the period. Stiles Financial Services Inc’s holdings in AbbVie were worth $608,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Marshall & Sullivan Inc. WA acquired a new stake in shares of AbbVie during the 2nd quarter valued at $25,000. TD Capital Management LLC grew its position in AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Abound Financial LLC bought a new stake in AbbVie in the first quarter worth approximately $30,000. Cypress Capital Management LLC WY bought a new stake in AbbVie in the first quarter worth approximately $35,000. Finally, Bear Mountain Capital Inc. grew its position in AbbVie by 480.6% in the second quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock worth $40,000 after acquiring an additional 173 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

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

AbbVie Trading Down 0.1%

Shares of ABBV stock opened at $231.03 on Friday. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $244.81. The firm’s fifty day simple moving average is $214.12 and its 200 day simple moving average is $196.58. The firm has a market capitalization of $408.13 billion, a P/E ratio of 110.01, a price-to-earnings-growth ratio of 1.35 and a beta of 0.51. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14.

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

AbbVie Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Piper Sandler assumed coverage on shares of AbbVie in a research report on Tuesday, August 12th. They issued an “overweight” rating and a $231.00 target price for the company. UBS Group set a $251.00 target price on shares of AbbVie in a research report on Friday, October 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research report on Wednesday. Berenberg Bank raised shares of AbbVie from a “hold” rating to a “buy” rating and boosted their target price for the stock from $170.00 to $270.00 in a research report on Wednesday, September 17th. Finally, Daiwa Capital Markets upgraded shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective for the company in a research note on Thursday, August 7th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $229.38.

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.