GKV Capital Management Co. Inc. Sells 2,780 Shares of AbbVie Inc. (NYSE:ABBV)

GKV Capital Management Co. Inc. lessened its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 93.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 200 shares of the company's stock after selling 2,780 shares during the period. GKV Capital Management Co. Inc.'s holdings in AbbVie were worth $42,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Abound Financial LLC bought a new position in shares of AbbVie in the 1st quarter valued at $30,000. Siemens Fonds Invest GmbH increased its stake in shares of AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after purchasing an additional 119,141 shares during the last quarter. Cypress Capital Management LLC WY bought a new position in shares of AbbVie in the 1st quarter valued at $35,000. Pinney & Scofield Inc. bought a new position in shares of AbbVie in the 4th quarter valued at $36,000. Finally, Inlight Wealth Management LLC bought a new position in shares of AbbVie in the 1st quarter valued at $42,000. Institutional investors own 70.23% of the company's stock.

AbbVie Stock Performance

Shares of AbbVie stock opened at $201.36 on Thursday. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66. The firm has a market capitalization of $355.71 billion, a price-to-earnings ratio of 95.89, a PEG ratio of 1.28 and a beta of 0.50. The business has a 50-day simple moving average of $190.39 and a 200 day simple moving average of $191.67. 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 (NYSE:ABBV - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the previous year, the firm earned $2.65 earnings per share. The business's quarterly revenue was up 6.6% on a year-over-year basis. On average, research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's payout ratio is currently 312.38%.

Analyst Ratings Changes

ABBV has been the topic of several recent analyst reports. Citigroup lifted their price target on AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Morgan Stanley boosted their price objective on AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Daiwa America upgraded AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Piper Sandler initiated coverage on AbbVie in a research report on Tuesday. They set an "overweight" rating and a $231.00 price objective on the stock. Finally, BNP Paribas upgraded AbbVie to a "hold" rating in a research report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $214.95.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares of the company's stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company's stock.

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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