Marshall Financial Group LLC Has $1.10 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

by · The Markets Daily

Marshall Financial Group LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 3.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,577 shares of the company’s stock after buying an additional 194 shares during the period. Marshall Financial Group LLC’s holdings in AbbVie were worth $1,101,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Fairway Wealth LLC acquired a new position in AbbVie in the 2nd quarter worth about $26,000. Ridgewood Investments LLC acquired a new position in AbbVie in the 2nd quarter worth about $27,000. Quest Partners LLC increased its holdings in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of AbbVie in the 1st quarter valued at about $37,000. Finally, Marquette Asset Management LLC bought a new stake in shares of AbbVie in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 1.0 %

ABBV stock opened at $188.57 on Friday. The stock’s 50 day simple moving average is $194.46 and its 200 day simple moving average is $177.70. The company has a market cap of $332.99 billion, a P/E ratio of 55.96, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95.

AbbVie (NYSE:ABBV – Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same period in the prior year, the firm earned $2.91 earnings per share. AbbVie’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, research analysts expect that AbbVie Inc. will post 10.85 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio is currently 183.98%.

Insider Transactions at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

ABBV has been the subject of several recent research reports. Wells Fargo & Company increased their price target on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Truist Financial increased their price target on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. UBS Group increased their price target on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. BMO Capital Markets increased their price target on AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, TD Cowen increased their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.69.

Get Our Latest Stock Report on AbbVie

AbbVie Company Profile

(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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