MBM Wealth Consultants LLC Has $2.22 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

MBM Wealth Consultants LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,263 shares of the company’s stock after selling 133 shares during the quarter. AbbVie accounts for approximately 0.7% of MBM Wealth Consultants LLC’s holdings, making the stock its 20th biggest position. MBM Wealth Consultants LLC’s holdings in AbbVie were worth $2,224,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Frisch Financial Group Inc. raised its stake in AbbVie by 0.8% in the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock valued at $1,187,000 after purchasing an additional 53 shares in the last quarter. First Citizens Financial Corp lifted its holdings in shares of AbbVie by 0.9% during the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after acquiring an additional 53 shares during the period. Capital Advisors Ltd. LLC boosted its position in shares of AbbVie by 1.3% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 4,453 shares of the company’s stock worth $764,000 after acquiring an additional 55 shares in the last quarter. Hilltop Partners LLC increased its stake in AbbVie by 1.4% in the second quarter. Hilltop Partners LLC now owns 3,859 shares of the company’s stock valued at $662,000 after acquiring an additional 55 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC raised its position in AbbVie by 1.0% during the second quarter. Longfellow Investment Management Co. LLC now owns 5,622 shares of the company’s stock valued at $964,000 after purchasing an additional 58 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction 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 directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now owns 513,099 shares in the company, valued at $89,792,325. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on ABBV. Barclays raised their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday. TD Cowen increased their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday. BMO Capital Markets lifted their price target on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Morgan Stanley increased their price objective on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Finally, Wells Fargo & Company upped their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $194.67.

AbbVie Trading Down 0.4 %

ABBV opened at $193.57 on Tuesday. The company has a fifty day moving average price of $193.35 and a two-hundred day moving average price of $176.84. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $199.95. The company has a market cap of $341.82 billion, a P/E ratio of 57.44, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63. 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 (NYSE:ABBV) last issued its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion during 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 firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.91 EPS. Analysts predict that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.20%. The ex-dividend date is Tuesday, October 15th. AbbVie’s payout ratio is currently 183.98%.

AbbVie 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.