MCF Advisors LLC Purchases 199 Shares of AbbVie Inc. (NYSE:ABBV)

MCF Advisors LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,508 shares of the company’s stock after purchasing an additional 199 shares during the period. MCF Advisors LLC’s holdings in AbbVie were worth $2,075,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. FCG Investment Co purchased a new stake in shares of AbbVie during the first quarter valued at $1,413,000. BluePath Capital Management LLC grew its stake in 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. Palisade Asset Management LLC increased its position in shares of AbbVie by 65.6% during the first quarter. Palisade Asset Management LLC now owns 97,341 shares of the company’s stock worth $17,726,000 after acquiring an additional 38,562 shares during the period. First Hawaiian Bank raised its stake in shares of AbbVie by 9.0% during the second quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock valued at $5,506,000 after acquiring an additional 2,657 shares in the last quarter. Finally, PGGM Investments boosted its holdings in shares of AbbVie by 308.1% in the second quarter. PGGM Investments now owns 32,790 shares of the company’s stock valued at $5,624,000 after purchasing an additional 24,756 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Transactions at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.9 %

NYSE:ABBV opened at $187.85 on Friday. 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. The company has a market cap of $331.72 billion, a PE ratio of 55.74, a P/E/G ratio of 2.66 and a beta of 0.63. The company’s 50 day moving average is $194.02 and its two-hundred day moving average is $178.34.

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

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio is presently 183.98%.

Analyst Ratings Changes

ABBV has been the topic of several research reports. BMO Capital Markets raised their price objective on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Sanford C. Bernstein began coverage on AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research note on Monday, August 5th. Piper Sandler Companies reissued an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research report on Wednesday, July 3rd. Finally, Citigroup upped their price target on shares of AbbVie from $170.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $199.39.

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.