Mascoma Wealth Management LLC Has $74,000 Holdings in AbbVie Inc. $ABBV

Mascoma Wealth Management LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 50.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 397 shares of the company’s stock after selling 400 shares during the period. Mascoma Wealth Management LLC’s holdings in AbbVie were worth $74,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ABBV. Marshall & Sullivan Inc. WA bought a new stake in shares of AbbVie during the 2nd quarter worth about $25,000. TD Capital Management LLC boosted its stake in shares of AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Abound Financial LLC bought a new stake in shares of AbbVie during the 1st quarter worth about $30,000. Cypress Capital Management LLC WY bought a new stake in shares of AbbVie during the 1st quarter worth about $35,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of AbbVie during the 1st quarter worth about $42,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s stock in a transaction that occurred 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 approximately $35,178,278.64. This represents a 19.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The shares were 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 approximately $11,562,611.97. This represents a 18.58% 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.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ABBV. Cantor Fitzgerald upped their price target on AbbVie from $215.00 to $245.00 and gave the stock an “overweight” rating in a research note on Monday, September 15th. Morgan Stanley boosted their price objective on AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Berenberg Bank raised AbbVie from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $170.00 to $270.00 in a research report on Wednesday, September 17th. Citigroup boosted their price objective on AbbVie to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, June 11th. Finally, Daiwa Capital Markets raised AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective for the company in a research report on Thursday, August 7th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $228.22.

AbbVie Trading Down 1.1%

AbbVie stock opened at $234.07 on Friday. The business has a 50 day moving average price of $210.77 and a two-hundred day moving average price of $195.90. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The stock has a market cap of $413.49 billion, a price-to-earnings ratio of 111.46, a price-to-earnings-growth ratio of 1.37 and a beta of 0.51. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $244.81.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the company earned $2.65 EPS. As a group, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is currently 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.