Marshall Financial Group LLC Sells 4,568 Shares of AbbVie Inc. $ABBV

Key Points

• Marshall Financial Group LLC has significantly reduced its holdings in AbbVie Inc. by 77.7%, owning only 1,309 shares worth approximately $246,000 after selling 4,568 shares in the second quarter.
• Numerous other institutional investors have adjusted their positions, with Waypoint Wealth Partners Inc. increasing their holdings by 71.1% during the same period.
• AbbVie announced a quarterly dividend of $1.64 per share, translating to an annualized dividend yield of 3.0% for the stockholders of record as of October 15th.

Marshall Financial Group LLC trimmed its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 77.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,309 shares of the company's stock after selling 4,568 shares during the quarter. Marshall Financial Group LLC's holdings in AbbVie were worth $246,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vista Investment Partners LLC boosted its holdings in shares of AbbVie by 0.4% in the second quarter. Vista Investment Partners LLC now owns 29,051 shares of the company's stock valued at $5,393,000 after acquiring an additional 109 shares during the period. Family Legacy Financial Solutions LLC acquired a new stake in shares of AbbVie in the second quarter valued at approximately $291,000. Waypoint Wealth Partners Inc. boosted its holdings in shares of AbbVie by 71.1% in the second quarter. Waypoint Wealth Partners Inc. now owns 2,388 shares of the company's stock valued at $443,000 after acquiring an additional 992 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of AbbVie by 3.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 554,650 shares of the company's stock valued at $104,984,000 after acquiring an additional 18,200 shares during the period. Finally, Strathmore Capital Advisors Inc. acquired a new stake in shares of AbbVie in the second quarter valued at approximately $772,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citigroup increased their price objective on AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. BMO Capital Markets increased their price objective on AbbVie from $215.00 to $240.00 and gave the company an "outperform" rating in a report on Friday, September 12th. Wells Fargo & Company increased their price objective on AbbVie from $240.00 to $260.00 and gave the company an "overweight" rating in a report on Friday, September 12th. Bank of America increased their price objective on AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Finally, Guggenheim upped their price target on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and a consensus price target of $222.68.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the sale, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the sale, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company's stock.

AbbVie Stock Up 0.1%

ABBV stock traded up $0.30 during midday trading on Friday, hitting $222.29. 14,371,957 shares of the company's stock were exchanged, compared to its average volume of 4,244,925. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $223.49. The firm has a 50 day moving average price of $203.12 and a 200-day moving average price of $194.89. The stock has a market capitalization of $392.69 billion, a price-to-earnings ratio of 105.85, a price-to-earnings-growth ratio of 1.32 and a beta of 0.53.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter last year, the firm posted $2.65 earnings per share. AbbVie's revenue was up 6.6% compared to the same quarter last year. On average, analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.0%. AbbVie's dividend payout ratio is 312.38%.

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.