AbbVie Inc. (NYSE:ABBV) Shares Acquired by Kanawha Capital Management LLC

Kanawha Capital Management LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 144,105 shares of the company’s stock after purchasing an additional 1,673 shares during the quarter. AbbVie accounts for 2.0% of Kanawha Capital Management LLC’s investment portfolio, making the stock its 11th biggest holding. Kanawha Capital Management LLC’s holdings in AbbVie were worth $25,608,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ABBV. Groupama Asset Managment lifted its holdings in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in AbbVie during the third quarter worth $28,000. Fiduciary Advisors Inc. purchased a new stake in AbbVie during the 4th quarter worth about $29,000. Retirement Wealth Solutions LLC purchased a new position in AbbVie in the 4th quarter valued at about $35,000. Finally, Mizuho Securities Co. Ltd. boosted its position in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.3 %

Shares of ABBV opened at $193.54 on Friday. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The business’s 50 day simple moving average is $178.24 and its 200-day simple moving average is $185.91. The company has a market capitalization of $342.00 billion, a P/E ratio of 80.64, a PEG ratio of 1.53 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period last year, the business posted $2.79 earnings per share. As a group, sell-side analysts predict that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

Analysts Set New Price Targets

ABBV has been the topic of a number of recent analyst reports. Wolfe Research began coverage on AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. Bank of America reiterated a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a report on Thursday, December 5th. Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Finally, Citigroup raised their target price on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $208.35.

AbbVie 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.