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

Marcum Wealth LLC cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABBV. Quest Partners LLC boosted its position in shares of AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares during the last quarter. Inspire Advisors LLC grew its stake in AbbVie by 4.1% in the 2nd quarter. Inspire Advisors LLC now owns 1,537 shares of the company’s stock worth $264,000 after buying an additional 61 shares in the last quarter. Lyell Wealth Management LP increased its holdings in shares of AbbVie by 4.0% in the 2nd quarter. Lyell Wealth Management LP now owns 1,671 shares of the company’s stock worth $287,000 after buying an additional 64 shares during the last quarter. Quilter Plc raised its position in shares of AbbVie by 14.7% during the 2nd quarter. Quilter Plc now owns 7,803 shares of the company’s stock valued at $1,338,000 after buying an additional 1,000 shares in the last quarter. Finally, Fairfield Financial Advisors LTD bought a new stake in shares of AbbVie during the 2nd quarter worth $149,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction 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 legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research report on Thursday, December 5th. Bank of America restated a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. BMO Capital Markets cut their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, Wolfe Research started coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $205.50.

AbbVie Trading Up 1.0 %

NYSE ABBV opened at $176.94 on Tuesday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The stock has a market cap of $312.68 billion, a P/E ratio of 61.44, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. The stock has a 50 day simple moving average of $178.00 and a two-hundred day simple moving average of $184.61.

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

AbbVie Increases Dividend

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

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.