Marble Wealth LLC Buys New Stake in AbbVie Inc. $ABBV

Marble Wealth LLC bought a new stake in AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,807 shares of the company’s stock, valued at approximately $4,069,000.

Other large investors have also recently bought and sold shares of the company. Mccarter Private Wealth Services LLC boosted its stake in AbbVie by 39.7% in the fourth quarter. Mccarter Private Wealth Services LLC now owns 7,025 shares of the company’s stock valued at $1,605,000 after acquiring an additional 1,998 shares in the last quarter. Dover Advisors LLC boosted its stake in AbbVie by 0.7% in the fourth quarter. Dover Advisors LLC now owns 6,944 shares of the company’s stock valued at $1,587,000 after acquiring an additional 48 shares in the last quarter. AmeriServ Wealth Advisors acquired a new position in AbbVie in the fourth quarter valued at $238,000. Bank of New York Mellon Corp boosted its stake in AbbVie by 9.7% in the fourth quarter. Bank of New York Mellon Corp now owns 13,499,351 shares of the company’s stock valued at $3,084,467,000 after acquiring an additional 1,197,432 shares in the last quarter. Finally, Palatine Hill Wealth Management LLC acquired a new position in AbbVie in the fourth quarter valued at $240,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of several research analyst reports. BMO Capital Markets restated an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Evercore set a $235.00 price objective on shares of AbbVie in a research note on Friday, May 15th. UBS Group decreased their price objective on shares of AbbVie from $240.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. Bank of America upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price objective for the company in a research note on Thursday, April 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $240.00 price objective on shares of AbbVie in a research note on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.43.

AbbVie Stock Performance

Shares of ABBV opened at $215.64 on Wednesday. AbbVie Inc. has a fifty-two week low of $181.73 and a fifty-two week high of $244.81. The company has a market capitalization of $381.00 billion, a price-to-earnings ratio of 106.23, a price-to-earnings-growth ratio of 0.73 and a beta of 0.32. The firm has a 50-day simple moving average of $208.56 and a 200-day simple moving average of $219.58.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter in the prior year, the firm earned $2.46 earnings per share. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. Equities research analysts forecast that AbbVie Inc. will post 14.3 EPS for the current year.

AbbVie Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.