Mascoma Wealth Management LLC Sells 400 Shares of AbbVie Inc. $ABBV

Mascoma Wealth Management LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 50.2% during the second quarter, according to the company in its most recent 13F 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.

A number of other large investors have also bought and sold shares of the business. FF Advisors LLC grew its position in AbbVie by 3.6% during the 2nd quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock worth $286,000 after acquiring an additional 53 shares during the last quarter. Private Management Group Inc. grew its position in AbbVie by 1.9% during the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock worth $616,000 after acquiring an additional 54 shares during the last quarter. Silicon Valley Capital Partners grew its position in AbbVie by 10.8% during the 1st quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock worth $118,000 after acquiring an additional 56 shares during the last quarter. Seneca House Advisors grew its position in AbbVie by 2.7% during the 2nd quarter. Seneca House Advisors now owns 2,093 shares of the company’s stock worth $388,000 after acquiring an additional 56 shares during the last quarter. Finally, Castle Wealth Management LLC boosted its position in AbbVie by 3.4% in the 1st quarter. Castle Wealth Management LLC now owns 1,725 shares of the company’s stock valued at $361,000 after buying an additional 57 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on ABBV shares. Citigroup increased their price objective on AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. HSBC set a $225.00 price objective on AbbVie in a research report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of AbbVie in a research report on Saturday, September 27th. Berenberg Bank upgraded AbbVie from a “hold” rating to a “buy” rating and increased their price objective for the company from $170.00 to $270.00 in a research report on Wednesday, September 17th. Finally, Wells Fargo & Company increased their price objective on AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $228.22.

Insider Buying and Selling at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the sale, the executive vice president owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the sale, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

ABBV stock opened at $234.07 on Friday. The business’s fifty day moving average is $210.77 and its 200-day moving average is $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 company has a market cap of $413.49 billion, a P/E ratio of 111.46, a price-to-earnings-growth ratio of 1.37 and a beta of 0.51. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $244.81.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The company 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 business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $2.65 EPS. Equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.8%. AbbVie’s dividend payout ratio is 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.