AbbVie Inc. (NYSE:ABBV) Stake Lessened by Kendall Capital Management

Kendall Capital Management cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 32,727 shares of the company’s stock after selling 126 shares during the period. AbbVie makes up about 1.9% of Kendall Capital Management’s portfolio, making the stock its 9th largest holding. Kendall Capital Management’s holdings in AbbVie were worth $5,613,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ABBV. AXS Investments LLC grew its position in shares of AbbVie by 3.3% in the fourth quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock valued at $1,477,000 after purchasing an additional 307 shares during the period. West Coast Financial LLC boosted its holdings in AbbVie by 9.7% in the 1st quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock worth $287,000 after buying an additional 140 shares during the last quarter. FCG Investment Co purchased a new stake in AbbVie during the 1st quarter worth approximately $1,413,000. Safeguard Financial LLC acquired a new position in shares of AbbVie during the first quarter valued at approximately $235,000. Finally, BluePath Capital Management LLC lifted its position in shares of AbbVie by 0.9% in the first quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock valued at $1,331,000 after acquiring an additional 67 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 firms recently commented on ABBV. William Blair raised AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Piper Sandler Companies reiterated an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research report on Wednesday, July 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. BMO Capital Markets increased their price objective on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Finally, Barclays raised their target price on shares of AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $191.64.

AbbVie Trading Down 0.3 %

Shares of AbbVie stock opened at $192.89 on Thursday. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The firm has a market capitalization of $340.62 billion, a price-to-earnings ratio of 57.24, a PEG ratio of 2.66 and a beta of 0.64. The stock has a 50 day moving average of $188.41 and a 200 day moving average of $175.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period last year, the company earned $2.91 EPS. The company’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, research analysts predict that AbbVie Inc. will post 10.86 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.21%. AbbVie’s dividend payout ratio is currently 183.98%.

Insider Buying and Selling

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the transaction, the chairman now owns 513,099 shares of the company’s stock, valued at $89,792,325. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

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.