AbbVie Inc. $ABBV Shares Acquired by MOKAN Wealth Management Inc.

MOKAN Wealth Management Inc. increased its holdings in AbbVie Inc. (NYSE:ABBV) by 21.5% during the second quarter, HoldingsChannel.com reports. The fund owned 18,297 shares of the company’s stock after buying an additional 3,236 shares during the period. AbbVie makes up approximately 1.9% of MOKAN Wealth Management Inc.’s holdings, making the stock its 16th largest holding. MOKAN Wealth Management Inc.’s holdings in AbbVie were worth $3,396,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. TD Capital Management LLC increased its holdings in shares of AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares during the period. Marshall & Sullivan Inc. WA acquired a new position in shares of AbbVie in the 2nd quarter valued at $25,000. Abound Financial LLC acquired a new position in shares of AbbVie in the 1st quarter valued at $30,000. Cypress Capital Management LLC WY acquired a new position in AbbVie in the 1st quarter valued at $35,000. Finally, Inlight Wealth Management LLC purchased a new position in AbbVie during the 1st quarter worth $42,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the sale, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of the sale, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by insiders.

AbbVie Stock Performance

NYSE:ABBV opened at $230.88 on Monday. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The stock has a market cap of $407.86 billion, a PE ratio of 109.94, a price-to-earnings-growth ratio of 1.42 and a beta of 0.51. The firm’s fifty day simple moving average is $214.84 and its 200-day simple moving average is $196.71.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same period last year, the company earned $2.65 earnings per share. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. Analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be given a $1.64 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. AbbVie’s payout ratio is currently 312.38%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ABBV. Cantor Fitzgerald set a $250.00 target price on shares of AbbVie and gave the company an “overweight” rating in a report on Thursday. HSBC set a $225.00 target price on shares of AbbVie in a report on Thursday, October 2nd. Piper Sandler lifted their target price on shares of AbbVie from $231.00 to $284.00 and gave the company an “overweight” rating in a report on Friday. Hsbc Global Res downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $231.90.

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.