Marcum Wealth LLC Sells 313 Shares of AbbVie Inc. (NYSE:ABBV)

Marcum Wealth LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,439 shares of the company’s stock after selling 313 shares during the period. Marcum Wealth LLC’s holdings in AbbVie were worth $1,677,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of ABBV. Fairway Wealth LLC acquired a new stake in AbbVie in the second quarter worth $26,000. Groupama Asset Managment grew its stake in shares of AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after buying an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in AbbVie in the 3rd quarter valued at about $28,000. Quest Partners LLC raised its stake in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after buying an additional 207 shares during the period. Finally, Marquette Asset Management LLC bought a new position in AbbVie in the third quarter worth approximately $39,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Citigroup decreased their price objective on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Wolfe Research started coverage on shares of AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective for the company. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a research report on Friday, November 22nd. Morgan Stanley cut their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Finally, BMO Capital Markets dropped their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $205.50.

AbbVie Stock Up 1.0 %

AbbVie stock opened at $176.94 on Tuesday. The firm has a 50 day moving average price of $178.00 and a 200-day moving average price of $184.61. 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 Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a market capitalization of $312.68 billion, a P/E ratio of 61.44, a P/E/G ratio of 1.92 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.95 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s payout ratio is currently 227.78%.

AbbVie Company Profile

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.