SS&H Financial Advisors Inc. Sells 573 Shares of AbbVie Inc. (NYSE:ABBV)

SS&H Financial Advisors Inc. lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,886 shares of the company’s stock after selling 573 shares during the quarter. AbbVie comprises about 3.2% of SS&H Financial Advisors Inc.’s holdings, making the stock its 5th biggest holding. SS&H Financial Advisors Inc.’s holdings in AbbVie were worth $8,567,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Blue Bell Private Wealth Management LLC lifted its stake in AbbVie by 30.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after buying an additional 52 shares during the last quarter. Steel Grove Capital Advisors LLC increased its holdings 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 during the period. Peninsula Wealth LLC raised its position in 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 purchasing an additional 54 shares during the last quarter. Physicians Financial Services Inc. boosted its stake in AbbVie by 0.5% during the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock worth $2,159,000 after purchasing an additional 55 shares during the period. Finally, Connecticut Wealth Management LLC boosted its stake in AbbVie by 1.6% during the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock worth $660,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ABBV shares. Bank of America lifted their price objective on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Wells Fargo & Company raised their price target on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Guggenheim upped their price objective on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Finally, Citigroup reiterated a “neutral” rating and issued a $205.00 target price (down from $210.00) on shares of AbbVie in a research note on Wednesday, May 14th. Eight equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $210.95.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

NYSE:ABBV opened at $187.18 on Wednesday. The firm’s fifty day simple moving average is $185.37 and its 200-day simple moving average is $186.65. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock has a market cap of $330.63 billion, a PE ratio of 77.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a fifty-two week low of $159.77 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the previous year, the firm earned $2.31 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. Analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

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.