PKO Investment Management Joint Stock Co Has $7.26 Million Holdings in AbbVie Inc. $ABBV

PKO Investment Management Joint Stock Co raised its holdings in AbbVie Inc. (NYSE:ABBV) by 144.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,084 shares of the company’s stock after buying an additional 23,084 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in AbbVie were worth $7,255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABBV. Brighton Jones LLC grew its stake in AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after purchasing an additional 3,401 shares during the period. Revolve Wealth Partners LLC grew its stake in AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares during the period. GAMMA Investing LLC grew its stake in AbbVie by 23.8% in the 1st quarter. GAMMA Investing LLC now owns 48,848 shares of the company’s stock valued at $10,235,000 after purchasing an additional 9,395 shares during the period. Pure Financial Advisors LLC grew its stake in AbbVie by 2.0% in the 1st quarter. Pure Financial Advisors LLC now owns 7,529 shares of the company’s stock valued at $1,577,000 after purchasing an additional 149 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in shares of AbbVie by 10.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 76,573 shares of the company’s stock valued at $16,043,000 after buying an additional 6,978 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In other AbbVie news, 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 of the company’s stock, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the transaction, the executive vice president directly owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

ABBV opened at $228.06 on Friday. The stock’s 50 day simple moving average is $220.69 and its 200 day simple moving average is $198.94. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $244.81. The firm has a market cap of $402.87 billion, a price-to-earnings ratio of 108.60, a PEG ratio of 1.44 and a beta of 0.51.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $14.93 billion. During the same quarter in the previous year, the business earned $2.65 earnings per share. AbbVie’s revenue was up 6.6% compared to the same quarter last year. As a group, analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company 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 dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is 312.38%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ABBV. Cantor Fitzgerald set a $250.00 price target on AbbVie and gave the company an “overweight” rating in a research report on Thursday, October 9th. Evercore ISI upped their price target on AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Erste Group Bank cut AbbVie from a “buy” rating to a “hold” rating in a report on Tuesday, October 14th. Raymond James Financial reissued an “outperform” rating and set a $250.00 price objective (up previously from $236.00) on shares of AbbVie in a report on Friday, October 17th. Finally, Morgan Stanley increased their price objective on AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $234.80.

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.