Marco Investment Management LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,131 shares of the company’s stock after purchasing an additional 3,205 shares during the quarter. AbbVie comprises approximately 2.1% of Marco Investment Management LLC’s portfolio, making the stock its 14th largest holding. Marco Investment Management LLC’s holdings in AbbVie were worth $17,812,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. 4Thought Financial Group Inc. purchased a new stake in shares of AbbVie during the 2nd quarter valued at approximately $25,000. Cowen Prime Advisors LLC purchased a new stake in shares of AbbVie during the 2nd quarter valued at approximately $34,000. ShoreHaven Wealth Partners LLC raised its position in shares of AbbVie by 150.4% during the 1st quarter. ShoreHaven Wealth Partners LLC now owns 318 shares of the company’s stock valued at $35,000 after buying an additional 191 shares during the period. KB Financial Partners LLC purchased a new stake in shares of AbbVie during the 1st quarter valued at approximately $37,000. Finally, Centerpoint Advisors LLC purchased a new stake in shares of AbbVie during the 2nd quarter valued at approximately $39,000. 65.82% of the stock is currently owned by institutional investors and hedge funds.
In other AbbVie news, SVP Carrie C. Strom sold 5,057 shares of the stock in a transaction that occurred on Monday, August 23rd. The shares were sold at an average price of $120.00, for a total transaction of $606,840.00. Following the transaction, the senior vice president now owns 11,595 shares of the company’s stock, valued at $1,391,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.
AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, July 29th. The company reported $3.11 earnings per share (EPS) for the quarter, topping the Zacks’ 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 for the quarter, compared to analyst estimates of $13.64 billion. During the same quarter last year, the business earned $2.34 earnings per share. AbbVie’s revenue was up 33.9% compared to the same quarter last year. On average, analysts anticipate that AbbVie Inc. will post 12.64 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 15th. Shareholders of record on Friday, October 15th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date is Thursday, October 14th. AbbVie’s dividend payout ratio is currently 49.24%.
Several research firms have commented on ABBV. Cowen boosted their price target on shares of AbbVie from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, August 23rd. Truist assumed coverage on shares of AbbVie in a research note on Tuesday, July 27th. They set a “buy” rating and a $124.08 target price for the company. Daiwa Capital Markets assumed coverage on shares of AbbVie in a research note on Friday, July 2nd. They set an “outperform” rating for the company. Truist Securities assumed coverage on shares of AbbVie in a research note on Tuesday, July 27th. They issued a “buy” rating and a $117.00 price objective for the company. Finally, Barclays upped their price objective on shares of AbbVie from $105.00 to $112.00 and gave the company an “equal weight” rating in a research note on Monday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Buy” and an average target price of $123.47.
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.
Featured Article: What is the accumulation/distribution indicator?
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).
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.