AbbVie Inc. (NYSE:ABBV) Shares Sold by KG&L Capital Management LLC

KG&L Capital Management LLC trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 10.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,164 shares of the company’s stock after selling 143 shares during the quarter. KG&L Capital Management LLC’s holdings in AbbVie were worth $244,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Blue Bell Private Wealth Management LLC lifted its holdings in shares of AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after acquiring an additional 52 shares during the period. Steel Grove Capital Advisors LLC boosted its stake in shares of AbbVie by 1.7% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock valued at $553,000 after purchasing an additional 52 shares in the last quarter. Peninsula Wealth LLC boosted its stake in shares of AbbVie by 4.1% in the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock valued at $242,000 after purchasing an additional 54 shares in the last quarter. Connecticut Wealth Management LLC boosted its stake in shares of AbbVie by 1.6% in the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock valued at $660,000 after purchasing an additional 57 shares in the last quarter. Finally, Northstar Group Inc. boosted its stake in shares of AbbVie by 0.7% in the 1st quarter. Northstar Group Inc. now owns 8,512 shares of the company’s stock valued at $1,783,000 after purchasing an additional 58 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Evercore ISI boosted their target price on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Citigroup boosted their target price on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday, June 11th. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 target price on the stock. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $211.29.

AbbVie Trading Up 0.9%

Shares of NYSE ABBV opened at $187.06 on Friday. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The firm has a market capitalization of $330.42 billion, a P/E ratio of 79.60, a P/E/G ratio of 1.23 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The company’s 50 day simple moving average is $186.03 and its 200 day simple moving average is $187.88.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. The company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.31 EPS. On average, analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.51%. AbbVie’s dividend payout ratio (DPR) is presently 279.15%.

AbbVie Company 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.