Miracle Mile Advisors LLC Grows Position in AbbVie Inc. $ABBV

by · The Markets Daily

Miracle Mile Advisors LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 9.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,953 shares of the company’s stock after purchasing an additional 5,026 shares during the quarter. Miracle Mile Advisors LLC’s holdings in AbbVie were worth $13,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in ABBV. Marshall & Sullivan Inc. WA purchased a new position in shares of AbbVie during the 2nd quarter valued at about $25,000. Evolution Wealth Management Inc. purchased a new stake in AbbVie in the second quarter worth approximately $26,000. Spurstone Advisory Services LLC bought a new position in AbbVie during the second quarter valued at approximately $28,000. Financial Gravity Companies Inc. purchased a new position in shares of AbbVie during the second quarter worth approximately $36,000. Finally, Delos Wealth Advisors LLC bought a new stake in shares of AbbVie in the 2nd quarter worth approximately $39,000. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research reports. Berenberg Bank raised shares of AbbVie from a “hold” rating to a “buy” rating and upped their price objective for the company from $170.00 to $270.00 in a research note on Wednesday, September 17th. Piper Sandler restated an “overweight” rating and set a $289.00 price target (up from $284.00) on shares of AbbVie in a research report on Wednesday, November 5th. UBS Group raised their price objective on AbbVie from $195.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and boosted their target price for the company from $225.00 to $265.00 in a research note on Wednesday, December 10th. Finally, Morgan Stanley raised their price target on AbbVie from $261.00 to $269.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $245.84.

Read Our Latest Stock Report on ABBV

AbbVie Stock Performance

AbbVie stock opened at $228.55 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.60 and a debt-to-equity ratio of 44.14. The firm has a market cap of $403.94 billion, a P/E ratio of 173.14, a P/E/G ratio of 1.30 and a beta of 0.36. AbbVie Inc. has a 1-year low of $164.39 and a 1-year high of $244.81. The firm has a 50-day moving average of $226.67 and a 200-day moving average of $213.37.

AbbVie (NYSE:ABBV – Get Free Report) last released its quarterly earnings results on Friday, October 31st. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.09. The business had revenue of $15.78 billion during the quarter, compared to analyst estimates of $15.58 billion. AbbVie had a return on equity of 3,216.47% and a net margin of 4.00%.AbbVie’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.00 EPS. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. Sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Friday, January 16th will be paid a $1.73 dividend. The ex-dividend date of this dividend is Friday, January 16th. This is a positive change from AbbVie’s previous quarterly dividend of $1.64. This represents a $6.92 dividend on an annualized basis and a yield of 3.0%. AbbVie’s payout ratio is 496.97%.

AbbVie Company Profile

(Free Report)

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.

Featured Articles

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV – Free Report).