Sageworth Trust Co Cuts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Sageworth Trust Co lowered its position in AbbVie Inc. (NYSE:ABBV) by 34.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 22,693 shares of the company’s stock after selling 12,160 shares during the period. AbbVie comprises about 0.3% of Sageworth Trust Co’s portfolio, making the stock its 25th largest holding. Sageworth Trust Co’s holdings in AbbVie were worth $4,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently made changes to their positions in the company. Pine Haven Investment Counsel Inc grew its holdings in shares of AbbVie by 0.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock worth $3,575,000 after purchasing an additional 52 shares during the period. Frisch Financial Group Inc. increased its position in shares of AbbVie by 0.8% during the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after acquiring an additional 53 shares during the period. First Citizens Financial Corp boosted its stake in shares of AbbVie by 0.9% in the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock valued at $1,141,000 after buying an additional 53 shares during the period. Sunflower Bank N.A. raised its holdings in shares of AbbVie by 0.4% in the 3rd quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock valued at $2,710,000 after purchasing an additional 53 shares in the last quarter. Finally, Professional Financial Advisors LLC boosted its position in shares of AbbVie by 3.4% during the 3rd quarter. Professional Financial Advisors LLC now owns 1,638 shares of the company’s stock worth $323,000 after acquiring an additional 54 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of several research analyst reports. Sanford C. Bernstein initiated coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target on the stock. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. Morgan Stanley upped their target price on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Finally, Bank of America lifted their price objective on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $199.39.

AbbVie Stock Performance

Shares of ABBV traded down $1.80 during mid-day trading on Friday, reaching $187.85. 4,017,525 shares of the company’s stock traded hands, compared to its average volume of 5,287,914. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The business’s 50-day moving average price is $194.14 and its 200-day moving average price is $178.16. The stock has a market capitalization of $331.72 billion, a P/E ratio of 55.73, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same period last year, the firm earned $2.91 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. Equities analysts predict that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio is currently 183.98%.

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.