AbbVie Inc. (NYSE:ABBV) is Marco Investment Management LLC’s 7th Largest Position

Marco Investment Management LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 16.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 162,840 shares of the company’s stock after purchasing an additional 22,649 shares during the quarter. AbbVie makes up 2.5% of Marco Investment Management LLC’s portfolio, making the stock its 7th biggest position. Marco Investment Management LLC’s holdings in AbbVie were worth $28,937,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. GGM Financials LLC increased its position in AbbVie by 0.7% in the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after acquiring an additional 50 shares during the period. Dillon & Associates Inc. increased its position in AbbVie by 0.8% in the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after acquiring an additional 52 shares during the period. Blue Bell Private Wealth Management LLC increased its position in AbbVie by 30.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after acquiring an additional 52 shares during the period. Physicians Financial Services Inc. increased its position in AbbVie by 0.5% in the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after acquiring an additional 55 shares during the period. Finally, Carr Financial Group Corp increased its position in AbbVie by 1.1% in the 3rd quarter. Carr Financial Group Corp now owns 5,274 shares of the company’s stock valued at $1,041,000 after acquiring an additional 56 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This represents a 62.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,439 shares of company stock valued at $11,377,057. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ABBV has been the topic of several recent research reports. Wolfe Research initiated coverage on AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target on the stock. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. BMO Capital Markets boosted their target price on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Bank of America boosted their target price on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.45.

AbbVie Price Performance

ABBV stock opened at $210.71 on Friday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $215.66. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The stock’s 50 day moving average price is $186.90 and its 200 day moving average price is $187.47. The firm has a market cap of $371.98 billion, a P/E ratio of 87.80, a PEG ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period in the previous year, the business posted $2.79 earnings per share. On average, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Tuesday, April 15th. AbbVie’s payout ratio is currently 273.33%.

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.