GKV Capital Management Co. Inc. Has $1.23 Million Holdings in AbbVie Inc. $ABBV

Key Points

• GKV Capital Management Co. Inc. increased its stake in AbbVie Inc. by 97.3%, now holding 5,880 shares worth approximately $1.23 million as of its latest SEC filing.
• Insider activity showed that AbbVie's EVP Nicholas Donoghoe sold 13,295 shares for over $2.6 million, reducing his total ownership by 18.58%.
• AbbVie declared a quarterly dividend of $1.64 per share, leading to an annualized yield of 3.2%, with a high dividend payout ratio of 312.38%.

GKV Capital Management Co. Inc. increased its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 97.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,880 shares of the company's stock after purchasing an additional 2,900 shares during the period. GKV Capital Management Co. Inc.'s holdings in AbbVie were worth $1,232,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Brighton Jones LLC boosted its stake in AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after purchasing an additional 3,401 shares during the period. Revolve Wealth Partners LLC lifted its position in AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after buying an additional 3,064 shares in the last quarter. Freestone Grove Partners LP bought a new stake in AbbVie during the 4th quarter worth about $1,351,000. Caisse DE Depot ET Placement DU Quebec lifted its position in AbbVie by 113.7% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,191,255 shares of the company's stock worth $211,686,000 after buying an additional 633,923 shares in the last quarter. Finally, Westbourne Investments Inc. bought a new stake in AbbVie during the 4th quarter worth about $1,295,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the 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 transaction, the executive vice president directly owned 58,247 shares of the company's stock, valued at $11,562,611.97. This represents a 18.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of the transaction, the executive vice president directly owned 177,292 shares in the company, valued at approximately $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. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Raymond James Financial reissued an "outperform" rating on shares of AbbVie in a research report on Monday. Piper Sandler assumed coverage on shares of AbbVie in a research report on Tuesday, August 12th. They set an "overweight" rating and a $231.00 price target on the stock. Guggenheim boosted their price target on shares of AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Morgan Stanley boosted their price target on shares of AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Five research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and an average price target of $214.95.

AbbVie Stock Down 0.1%

Shares of ABBV stock opened at $207.91 on Friday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The firm's 50-day moving average is $194.55 and its 200-day moving average is $193.41. The stock has a market cap of $367.28 billion, a price-to-earnings ratio of 99.00, a PEG ratio of 1.34 and a beta of 0.50. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm's revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.65 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, July 15th. AbbVie's dividend payout ratio is currently 312.38%.

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.

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