Kellett Wealth Advisors LLC Has $607,000 Stock Holdings in AbbVie Inc. $ABBV

Kellett Wealth Advisors LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 17.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,268 shares of the company’s stock after selling 667 shares during the period. Kellett Wealth Advisors LLC’s holdings in AbbVie were worth $607,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Conning Inc. boosted its position in AbbVie by 7.1% during the second quarter. Conning Inc. now owns 191,023 shares of the company’s stock valued at $35,458,000 after purchasing an additional 12,690 shares during the last quarter. Dohj LLC boosted its position in AbbVie by 41.8% during the second quarter. Dohj LLC now owns 4,529 shares of the company’s stock valued at $802,000 after purchasing an additional 1,335 shares during the last quarter. First Hawaiian Bank boosted its position in AbbVie by 0.8% during the second quarter. First Hawaiian Bank now owns 7,556 shares of the company’s stock valued at $1,403,000 after purchasing an additional 60 shares during the last quarter. Narus Financial Partners LLC boosted its position in AbbVie by 25.3% during the first quarter. Narus Financial Partners LLC now owns 1,988 shares of the company’s stock valued at $417,000 after purchasing an additional 401 shares during the last quarter. Finally, BankPlus Trust Department boosted its position in AbbVie by 3.3% during the second quarter. BankPlus Trust Department now owns 27,113 shares of the company’s stock valued at $5,033,000 after purchasing an additional 855 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the transaction, the executive vice president directly owned 177,292 shares in the company, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the transaction, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

AbbVie Price Performance

NYSE ABBV opened at $230.36 on Tuesday. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The stock’s 50-day moving average is $215.50 and its two-hundred day moving average is $196.89. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The firm has a market cap of $406.94 billion, a P/E ratio of 109.70, a price-to-earnings-growth ratio of 1.42 and a beta of 0.51.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.65 earnings per share. On average, analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be paid a $1.64 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.8%. AbbVie’s payout ratio is presently 312.38%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ABBV shares. Raymond James Financial reissued an “outperform” rating on shares of AbbVie in a research report on Monday, August 25th. Guggenheim lifted their price objective on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Citigroup restated a “neutral” rating on shares of AbbVie in a report on Monday. Finally, Hsbc Global Res lowered AbbVie from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $231.90.

AbbVie Company 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.