Marathon Capital Management Has $971,000 Holdings in AbbVie Inc. (NYSE:ABBV)

Marathon Capital Management lowered its stake in AbbVie Inc. (NYSE:ABBV) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,267 shares of the company’s stock after selling 225 shares during the period. Marathon Capital Management’s holdings in AbbVie were worth $971,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABBV. Level Four Advisory Services LLC grew its position in AbbVie by 1.4% in the 4th quarter. Level Four Advisory Services LLC now owns 132,117 shares of the company’s stock worth $20,474,000 after purchasing an additional 1,834 shares during the last quarter. Hayek Kallen Investment Management lifted its position in shares of AbbVie by 0.9% in the 4th quarter. Hayek Kallen Investment Management now owns 32,852 shares of the company’s stock worth $5,091,000 after acquiring an additional 292 shares during the period. NorthRock Partners LLC grew its holdings in shares of AbbVie by 2.1% during the 4th quarter. NorthRock Partners LLC now owns 23,564 shares of the company’s stock worth $3,652,000 after purchasing an additional 475 shares in the last quarter. Greenup Street Wealth Management LLC bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $231,000. Finally, Texas Capital Bank Wealth Management Services Inc raised its stake in shares of AbbVie by 11.2% in the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 3,948 shares of the company’s stock valued at $612,000 after purchasing an additional 398 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Raymond James increased their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. BMO Capital Markets lowered their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Cantor Fitzgerald started coverage on shares of AbbVie in a research note on Friday. They issued an “overweight” rating and a $200.00 target price on the stock. Barclays cut their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Finally, Guggenheim lifted their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $176.14.

AbbVie Trading Up 1.3 %

Shares of ABBV stock traded up $2.07 during mid-day trading on Friday, hitting $166.42. The company’s stock had a trading volume of 5,152,176 shares, compared to its average volume of 5,284,928. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The company’s fifty day simple moving average is $169.88 and its 200-day simple moving average is $162.56. The company has a market cap of $293.88 billion, a PE ratio of 49.38, a P/E/G ratio of 2.10 and a beta of 0.61.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same period in the previous year, the firm posted $2.46 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. As a group, equities research analysts expect that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the sale, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 over the last three months. Corporate insiders own 0.25% of the company’s stock.

AbbVie Company 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.