M&R Capital Management Inc. Has $2.84 Million Holdings in AbbVie Inc. (NYSE:ABBV)

M&R Capital Management Inc. reduced its position in AbbVie Inc. (NYSE:ABBV) by 0.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,625 shares of the company’s stock after selling 94 shares during the period. M&R Capital Management Inc.’s holdings in AbbVie were worth $2,844,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC acquired a new position in shares of AbbVie during the 4th quarter valued at about $26,000. Able Wealth Management LLC acquired a new position in shares of AbbVie during the 4th quarter valued at about $33,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of AbbVie during the 4th quarter valued at about $37,000. Clarity Asset Management Inc. acquired a new position in shares of AbbVie during the 4th quarter valued at about $42,000. Finally, DiNuzzo Private Wealth Inc. acquired a new position in shares of AbbVie during the 4th quarter valued at about $44,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of ABBV stock opened at $171.35 on Wednesday. The stock has a 50 day moving average of $163.58 and a two-hundred day moving average of $166.38. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The company has a market capitalization of $302.58 billion, a P/E ratio of 50.85, a P/E/G ratio of 2.17 and a beta of 0.60.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same period last year, the firm posted $2.46 EPS. The business’s revenue was up .7% on a year-over-year basis. As a group, equities analysts expect that AbbVie Inc. will post 11.26 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Piper Sandler increased their price objective on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday. Guggenheim increased their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets decreased their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Barclays decreased their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Finally, Cantor Fitzgerald initiated coverage on AbbVie in a research note on Friday, May 17th. They set an “overweight” rating and a $200.00 target price for the company. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $179.64.

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.