Rep. Marjorie Taylor Greene Purchases Shares of AbbVie Inc. (NYSE:ABBV)

by · The Cerbat Gem

Representative Marjorie Taylor Greene (R-Georgia) recently bought shares of AbbVie Inc. (NYSE:ABBV). In a filing disclosed on November 21st, the Representative disclosed that they had bought between $1,001 and $15,000 in AbbVie stock on November 20th.

Representative Marjorie Taylor Greene also recently made the following trade(s):

  • Purchased $1,001 – $15,000 in shares of Nestlé (OTCMKTS:NSRGY) on 11/20/2024.
  • Purchased $1,001 – $15,000 in shares of Southern Copper (NYSE:SCCO) on 11/20/2024.
  • Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 11/20/2024.
  • Purchased $1,001 – $15,000 in shares of Occidental Petroleum (NYSE:OXY) on 11/20/2024.
  • Purchased $1,001 – $15,000 in shares of Applied Materials (NASDAQ:AMAT) on 11/20/2024.
  • Purchased $1,001 – $15,000 in shares of Adobe (NASDAQ:ADBE) on 11/20/2024.
  • Purchased $1,001 – $15,000 in shares of QUALCOMM (NASDAQ:QCOM) on 11/20/2024.
  • Purchased $1,001 – $15,000 in shares of Berkshire Hathaway (NYSE:BRK.B) on 11/7/2024.
  • Purchased $1,001 – $15,000 in shares of FedEx (NYSE:FDX) on 11/7/2024.
  • Purchased $1,001 – $15,000 in shares of Dell Technologies (NYSE:DELL) on 11/7/2024.

AbbVie Stock Up 3.0 %

ABBV stock opened at $176.95 on Friday. The company has a market cap of $312.70 billion, a price-to-earnings ratio of 61.44, a P/E/G ratio of 2.09 and a beta of 0.63. AbbVie Inc. has a twelve month low of $137.65 and a twelve month high of $207.32. The business has a 50 day moving average price of $189.47 and a two-hundred day moving average price of $181.17. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV – Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.95 earnings per share. Analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is presently 215.28%.

Institutional Trading of AbbVie

Institutional investors have recently modified their holdings of the stock. RPg Family Wealth Advisory LLC bought a new position in AbbVie in the 3rd quarter valued at about $28,000. Fairway Wealth LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth approximately $27,000. Marquette Asset Management LLC bought a new position in AbbVie in the third quarter valued at approximately $39,000. Finally, Mizuho Securities Co. Ltd. raised its position in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research analyst reports. Barclays lifted their price target on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Citigroup reduced their price objective on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $203.50.

Read Our Latest Stock Report on ABBV

About Representative Greene

Marjorie Taylor Greene (Republican Party) is a member of the U.S. House, representing Georgia’s 14th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Greene (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 14th Congressional District. She declared candidacy for the 2024 election. Marjorie Taylor Greene earned a bachelor’s degree in business administration from the University of Georgia. Greene’s career experience includes co-owning construction company Taylor Commercial and founding and owning a CrossFit gym.

About AbbVie

(Get Free Report)

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.

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