KRS Capital Management LLC Has $1.64 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

KRS Capital Management LLC lowered its position in AbbVie Inc. (NYSE:ABBV) by 7.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,004 shares of the company’s stock after selling 690 shares during the quarter. AbbVie makes up approximately 1.3% of KRS Capital Management LLC’s holdings, making the stock its 13th biggest position. KRS Capital Management LLC’s holdings in AbbVie were worth $1,640,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC bought a new stake in shares of AbbVie during the 4th quarter worth about $26,000. Able Wealth Management LLC bought a new stake in shares of AbbVie during the 4th quarter worth about $33,000. IFS Advisors LLC bought a new stake in shares of AbbVie during the 1st quarter worth about $36,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of AbbVie during the 4th quarter worth about $37,000. Finally, Clarity Asset Management Inc. bought a new stake in shares of AbbVie during the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ABBV. BMO Capital Markets cut their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research report on Thursday, June 20th. Guggenheim boosted their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a report on Wednesday, June 5th. Finally, Piper Sandler upped their price target on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, June 18th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $179.64.

AbbVie Stock Up 1.5 %

NYSE ABBV opened at $171.52 on Friday. The firm has a market cap of $302.88 billion, a PE ratio of 50.90, a price-to-earnings-growth ratio of 2.16 and a beta of 0.60. AbbVie Inc. has a one year low of $132.13 and a one year high of $182.89. The stock’s 50 day simple moving average is $164.60 and its 200 day simple moving average is $167.54. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. AbbVie’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the company earned $2.46 EPS. As a group, sell-side analysts forecast that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $1.55 dividend. The ex-dividend date is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.61%. AbbVie’s payout ratio is 183.98%.

About AbbVie

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.