McAdam LLC Has $3.43 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

McAdam LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,377 shares of the company’s stock after purchasing an additional 156 shares during the period. McAdam LLC’s holdings in AbbVie were worth $3,432,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Sovereign Financial Group Inc. raised its holdings in AbbVie by 18.6% during the 1st quarter. Sovereign Financial Group Inc. now owns 3,212 shares of the company’s stock worth $585,000 after buying an additional 503 shares during the period. Revolve Wealth Partners LLC lifted its position in AbbVie by 10.1% in the 1st quarter. Revolve Wealth Partners LLC now owns 3,083 shares of the company’s stock valued at $561,000 after acquiring an additional 282 shares in the last quarter. DGS Capital Management LLC lifted its position in AbbVie by 33.0% in the 1st quarter. DGS Capital Management LLC now owns 3,279 shares of the company’s stock valued at $597,000 after acquiring an additional 814 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its stake in AbbVie by 23.6% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 42,837 shares of the company’s stock worth $7,801,000 after purchasing an additional 8,184 shares during the period. Finally, Signet Financial Management LLC raised its stake in shares of AbbVie by 0.3% in the 1st quarter. Signet Financial Management LLC now owns 42,664 shares of the company’s stock valued at $7,769,000 after purchasing an additional 128 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

ABBV opened at $187.87 on Thursday. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The company has a market capitalization of $331.75 billion, a PE ratio of 55.75, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The business has a fifty day simple moving average of $194.22 and a 200 day simple moving average of $178.08. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95.

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

AbbVie Dividend Announcement

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

Insider Activity at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ABBV shares. Bank of America lifted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Piper Sandler Companies reissued an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research report on Wednesday, July 3rd. UBS Group increased their price objective on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Piper Sandler lifted their target price on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Barclays increased their price target on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.47.

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.