BKM Wealth Management LLC Acquires 306 Shares of AbbVie Inc. (NYSE:ABBV)

BKM Wealth Management LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 20.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,815 shares of the company’s stock after purchasing an additional 306 shares during the period. BKM Wealth Management LLC’s holdings in AbbVie were worth $323,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of AbbVie in the 3rd quarter worth about $999,000. Saturna Capital Corp lifted its holdings in AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after buying an additional 560,808 shares during the period. Everence Capital Management Inc. boosted its position in AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after acquiring an additional 15,550 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of AbbVie by 9.5% during the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after acquiring an additional 3,439 shares during the period. Finally, Avior Wealth Management LLC raised its position in shares of AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after acquiring an additional 10,768 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Piper Sandler upped their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. BMO Capital Markets lifted their price objective on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research note on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $193.00 on Tuesday. The firm has a fifty day moving average price of $178.93 and a 200 day moving average price of $186.04. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The firm has a market cap of $341.05 billion, a price-to-earnings ratio of 80.42, a P/E/G ratio of 1.53 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

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

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.40%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was 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 $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is owned by company insiders.

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.