Stillwater Capital Advisors LLC Sells 989 Shares of AbbVie Inc. (NYSE:ABBV)

Stillwater Capital Advisors LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,798 shares of the company’s stock after selling 989 shares during the period. AbbVie makes up 2.3% of Stillwater Capital Advisors LLC’s portfolio, making the stock its 18th biggest holding. Stillwater Capital Advisors LLC’s holdings in AbbVie were worth $17,733,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fairway Wealth LLC acquired a new position in AbbVie during the 2nd quarter valued at $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie during the second quarter valued at about $27,000. IFS Advisors LLC bought a new stake in shares of AbbVie in the first quarter valued at about $36,000. Marquette Asset Management LLC acquired a new stake in AbbVie during the third quarter worth about $39,000. Finally, Redmont Wealth Advisors LLC bought a new position in AbbVie during the first quarter valued at about $37,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction on Monday, August 5th. The stock was 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 $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of several recent research reports. Piper Sandler lifted their price objective on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Wells Fargo & Company lifted their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Barclays increased their price objective on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Morgan Stanley lifted their target price on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Finally, Truist Financial increased their price target on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $198.00.

AbbVie Price Performance

Shares of ABBV stock opened at $191.86 on Wednesday. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $199.95. The stock has a market capitalization of $338.80 billion, a PE ratio of 56.93, a PEG ratio of 2.66 and a beta of 0.63. 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 stock’s fifty day moving average is $194.44 and its 200-day moving average is $177.54.

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

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.23%. AbbVie’s payout ratio is 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.