AbbVie Inc. (NYSE:ABBV) Stock Position Lifted by Marco Investment Management LLC

Marco Investment Management LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 16.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,840 shares of the company’s stock after buying an additional 22,649 shares during the period. AbbVie accounts for 2.5% of Marco Investment Management LLC’s portfolio, making the stock its 7th biggest holding. Marco Investment Management LLC’s holdings in AbbVie were worth $28,937,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Blue Bell Private Wealth Management LLC lifted its position in shares of AbbVie by 30.4% during the 4th 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 in the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in AbbVie by 27.1% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 37,922 shares of the company’s stock worth $6,739,000 after purchasing an additional 8,091 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. lifted its holdings in AbbVie by 17.2% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 3,371 shares of the company’s stock worth $599,000 after purchasing an additional 494 shares in the last quarter. Callan Family Office LLC lifted its holdings in AbbVie by 555.6% in the 4th quarter. Callan Family Office LLC now owns 21,105 shares of the company’s stock worth $3,750,000 after purchasing an additional 17,886 shares in the last quarter. Finally, EagleClaw Capital Managment LLC lifted its holdings in AbbVie by 2.9% in the 4th quarter. EagleClaw Capital Managment LLC now owns 69,825 shares of the company’s stock worth $12,408,000 after purchasing an additional 1,948 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This represents a 20.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,439 shares of company stock valued at $11,377,057 in the last quarter. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. UBS Group boosted their price target on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. BMO Capital Markets boosted their price target on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Wolfe Research assumed coverage on AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target on the stock. Finally, Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average target price of $211.45.

AbbVie Stock Performance

NYSE ABBV opened at $210.71 on Friday. The company has a market cap of $371.98 billion, a P/E ratio of 87.80, a P/E/G ratio of 1.62 and a beta of 0.58. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The business’s 50 day moving average price is $186.90 and its 200-day moving average price is $187.47. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $215.66.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period in the prior year, the company posted $2.79 EPS. Sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.11%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

About AbbVie

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.