Kowal Investment Group LLC Has $2.57 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Kowal Investment Group LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 4.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,006 shares of the company’s stock after acquiring an additional 671 shares during the quarter. AbbVie accounts for approximately 0.5% of Kowal Investment Group LLC’s investment portfolio, making the stock its 29th biggest holding. Kowal Investment Group LLC’s holdings in AbbVie were worth $2,574,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Westwood Holdings Group Inc. raised its holdings in shares of AbbVie by 1.2% in the second quarter. Westwood Holdings Group Inc. now owns 11,380 shares of the company’s stock valued at $1,952,000 after purchasing an additional 130 shares during the last quarter. Tcwp LLC grew its position in AbbVie by 12.0% in the 2nd quarter. Tcwp LLC now owns 2,936 shares of the company’s stock worth $504,000 after purchasing an additional 315 shares in the last quarter. TPG Advisors LLC bought a new stake in AbbVie in the 2nd quarter worth about $366,000. Summit Trail Advisors LLC increased its stake in AbbVie by 16.6% in the 2nd quarter. Summit Trail Advisors LLC now owns 20,558 shares of the company’s stock valued at $3,526,000 after buying an additional 2,924 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of AbbVie by 11.2% during the 2nd quarter. Sei Investments Co. now owns 484,279 shares of the company’s stock worth $83,064,000 after buying an additional 48,722 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

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

AbbVie Stock Performance

Shares of ABBV stock opened at $193.47 on Friday. The firm’s 50 day moving average is $189.35 and its 200 day moving average is $175.80. The stock has a market capitalization of $341.64 billion, a P/E ratio of 57.41, a PEG ratio of 2.66 and a beta of 0.64. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter in the prior year, the business posted $2.91 earnings per share. The business’s quarterly revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts anticipate that AbbVie Inc. will post 10.86 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.20%. AbbVie’s dividend payout ratio is currently 183.98%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company upped their target price on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Truist Financial restated a “buy” rating and issued a $210.00 price objective (up previously from $195.00) on shares of AbbVie in a research note on Friday, July 26th. Morgan Stanley lifted their target price on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Wednesday, July 3rd. Finally, William Blair upgraded shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $191.64.

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.