Hayek Kallen Investment Management Has $5.95 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Hayek Kallen Investment Management boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,457 shares of the company’s stock after purchasing an additional 369 shares during the period. AbbVie comprises approximately 2.2% of Hayek Kallen Investment Management’s investment portfolio, making the stock its 12th biggest position. Hayek Kallen Investment Management’s holdings in AbbVie were worth $5,945,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Fiduciary Advisors Inc. bought a new position in shares of AbbVie in the fourth quarter worth about $29,000. EnRich Financial Partners LLC boosted its position in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after buying an additional 110 shares in the last quarter. Promus Capital LLC bought a new stake in shares of AbbVie during the fourth quarter worth $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of AbbVie during the fourth quarter worth $31,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of AbbVie in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the transaction, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This trade represents a 52.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock worth $23,426,451 in the last 90 days. Insiders own 0.25% of the company’s stock.

AbbVie Trading Up 2.0 %

NYSE:ABBV opened at $180.53 on Friday. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. The company has a market cap of $319.35 billion, a PE ratio of 75.22, a PEG ratio of 1.62 and a beta of 0.55. The firm has a 50-day moving average of $197.05 and a 200-day moving average of $187.28.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period in the prior year, the business posted $2.79 earnings per share. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.63%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ABBV. Raymond James reaffirmed an “outperform” rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Citigroup boosted their target price on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Morgan Stanley reiterated a “hold” rating on shares of AbbVie in a report on Friday, April 11th. Finally, Truist Financial raised their target price on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $211.19.

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.