Guyasuta Investment Advisors Inc. Raises Holdings in AbbVie Inc. (NYSE:ABBV)

Guyasuta Investment Advisors Inc. grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 4.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,962 shares of the company’s stock after purchasing an additional 1,585 shares during the period. Guyasuta Investment Advisors Inc.’s holdings in AbbVie were worth $4,051,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ABBV. Corundum Group Inc. boosted its holdings in AbbVie by 2.1% in the first quarter. Corundum Group Inc. now owns 4,151 shares of the company’s stock valued at $449,000 after purchasing an additional 87 shares during the last quarter. Invst LLC boosted its holdings in AbbVie by 0.9% in the second quarter. Invst LLC now owns 9,585 shares of the company’s stock valued at $1,126,000 after purchasing an additional 88 shares during the last quarter. Loomis Sayles & Co. L P boosted its holdings in AbbVie by 24.1% in the first quarter. Loomis Sayles & Co. L P now owns 459 shares of the company’s stock valued at $50,000 after purchasing an additional 89 shares during the last quarter. Altfest L J & Co. Inc. boosted its holdings in AbbVie by 0.5% in the second quarter. Altfest L J & Co. Inc. now owns 18,871 shares of the company’s stock valued at $2,126,000 after purchasing an additional 89 shares during the last quarter. Finally, Old North State Trust LLC boosted its holdings in AbbVie by 1.5% in the first quarter. Old North State Trust LLC now owns 6,415 shares of the company’s stock valued at $694,000 after purchasing an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 65.82% of the company’s stock.

In related news, SVP Carrie C. Strom sold 5,057 shares of the company’s stock in a transaction dated Monday, August 23rd. The shares were sold at an average price of $120.00, for a total transaction of $606,840.00. Following the completion of the sale, the senior vice president now owns 11,595 shares of the company’s stock, valued at approximately $1,391,400. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Shares of ABBV traded up $1.36 during mid-day trading on Monday, hitting $108.43. 94,403 shares of the company were exchanged, compared to its average volume of 7,035,997. AbbVie Inc. has a 1-year low of $79.11 and a 1-year high of $121.53. The company has a debt-to-equity ratio of 5.89, a quick ratio of 0.79 and a current ratio of 0.91. The company has a 50 day moving average of $114.21 and a 200-day moving average of $112.82. The stock has a market cap of $191.61 billion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 2.01 and a beta of 0.82.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, July 29th. The company reported $3.11 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.02. AbbVie had a net margin of 12.40% and a return on equity of 154.24%. The firm had revenue of $13.96 billion during the quarter, compared to the consensus estimate of $13.64 billion. During the same quarter in the prior year, the firm earned $2.34 EPS. The company’s revenue for the quarter was up 33.9% on a year-over-year basis. Research analysts anticipate that AbbVie Inc. will post 12.64 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Investors of record on Friday, October 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, October 14th. This represents a $5.20 annualized dividend and a yield of 4.80%. AbbVie’s dividend payout ratio is presently 49.24%.

Several equities research analysts have commented on ABBV shares. Argus upped their price target on shares of AbbVie from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 5th. Morgan Stanley reiterated a “buy” rating and issued a $116.00 price objective on shares of AbbVie in a research report on Friday, August 20th. Daiwa Capital Markets assumed coverage on shares of AbbVie in a research report on Friday, July 2nd. They issued an “outperform” rating for the company. Barclays upped their price objective on shares of AbbVie from $105.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Monday, August 2nd. Finally, Mizuho upped their price objective on shares of AbbVie from $128.00 to $131.00 and gave the stock a “buy” rating in a research report on Monday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $123.47.

AbbVie Company Profile

AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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