AbbVie Inc. (NYSE:ABBV) is Mark Sheptoff Financial Planning LLC’s 9th Largest Position

Mark Sheptoff Financial Planning LLC cut its stake in AbbVie Inc. (NYSE:ABBV) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,439 shares of the company’s stock after selling 225 shares during the quarter. AbbVie comprises about 2.7% of Mark Sheptoff Financial Planning LLC’s investment portfolio, making the stock its 9th biggest position. Mark Sheptoff Financial Planning LLC’s holdings in AbbVie were worth $5,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of ABBV. Bank & Trust Co purchased a new position in AbbVie in the 2nd quarter valued at about $1,016,000. BancFirst Trust & Investment Management grew its stake in AbbVie by 21.9% during the 2nd quarter. BancFirst Trust & Investment Management now owns 4,062 shares of the company’s stock valued at $686,000 after purchasing an additional 729 shares in the last quarter. Trust Co. of Toledo NA OH increased its holdings in AbbVie by 2.3% during the 2nd quarter. Trust Co. of Toledo NA OH now owns 41,851 shares of the company’s stock worth $7,178,000 after purchasing an additional 931 shares during the last quarter. RVW Wealth LLC raised its position in shares of AbbVie by 2.0% in the 2nd quarter. RVW Wealth LLC now owns 5,213 shares of the company’s stock valued at $894,000 after purchasing an additional 100 shares in the last quarter. Finally, Great Waters Wealth Management acquired a new stake in shares of AbbVie during the second quarter worth approximately $217,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $182.93 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12-month low of $138.01 and a 12-month high of $207.32. The stock has a 50 day simple moving average of $188.23 and a 200-day simple moving average of $181.89. The company has a market cap of $323.26 billion, a PE ratio of 63.52, a P/E/G ratio of 2.09 and a beta of 0.63.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the prior year, the company posted $2.95 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts forecast that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.59%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s payout ratio is presently 227.78%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ABBV shares. Morgan Stanley cut their price target on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Bank of America increased their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. reduced their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Finally, Barclays boosted their price target on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $203.50.

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.