Mayport LLC Boosts Position in AbbVie Inc. (NYSE:ABBV)

Mayport LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 6.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,673 shares of the company’s stock after acquiring an additional 376 shares during the quarter. Mayport LLC’s holdings in AbbVie were worth $1,318,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. West Coast Financial LLC lifted its position in shares of AbbVie by 9.7% in the 1st quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock worth $287,000 after purchasing an additional 140 shares during the period. FCG Investment Co bought a new stake in AbbVie during the 1st quarter valued at $1,413,000. Safeguard Financial LLC purchased a new position in shares of AbbVie in the 1st quarter valued at $235,000. BluePath Capital Management LLC raised its position in shares of AbbVie by 0.9% in the 1st quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock worth $1,331,000 after acquiring an additional 67 shares in the last quarter. Finally, Palisade Asset Management LLC lifted its stake in shares of AbbVie by 65.6% during the 1st quarter. Palisade Asset Management LLC now owns 97,341 shares of the company’s stock worth $17,726,000 after purchasing an additional 38,562 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ABBV. TD Cowen boosted their price objective on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. UBS Group raised their price objective on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Truist Financial raised their price target on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Piper Sandler Companies restated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a report on Wednesday, July 3rd. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $198.31.

AbbVie Stock Performance

NYSE ABBV opened at $191.18 on Thursday. The stock has a market capitalization of $337.60 billion, a price-to-earnings ratio of 56.52, a PEG ratio of 2.66 and a beta of 0.63. The stock has a 50-day moving average of $194.50 and a 200 day moving average of $177.63. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The business’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.91 EPS. Sell-side analysts anticipate that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.24%. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

About AbbVie

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.