PKO Investment Management Joint Stock Co Raises Stock Holdings in AbbVie Inc. $ABBV

PKO Investment Management Joint Stock Co lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 144.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 39,084 shares of the company’s stock after purchasing an additional 23,084 shares during the period. PKO Investment Management Joint Stock Co’s holdings in AbbVie were worth $7,255,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC increased its holdings in AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after purchasing an additional 3,401 shares during the period. Revolve Wealth Partners LLC increased its holdings in AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after purchasing an additional 3,064 shares during the period. GAMMA Investing LLC increased its holdings in AbbVie by 23.8% during the 1st quarter. GAMMA Investing LLC now owns 48,848 shares of the company’s stock worth $10,235,000 after purchasing an additional 9,395 shares during the period. Pure Financial Advisors LLC boosted its position in AbbVie by 2.0% during the 1st quarter. Pure Financial Advisors LLC now owns 7,529 shares of the company’s stock valued at $1,577,000 after acquiring an additional 149 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in AbbVie by 10.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 76,573 shares of the company’s stock valued at $16,043,000 after acquiring an additional 6,978 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Performance

NYSE ABBV opened at $228.06 on Friday. The stock has a 50-day simple moving average of $220.69 and a two-hundred day simple moving average of $198.94. The firm has a market capitalization of $402.87 billion, a P/E ratio of 108.60, a PEG ratio of 1.44 and a beta of 0.51. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74.

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

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.9%. AbbVie’s dividend payout ratio (DPR) is presently 312.38%.

Insider Activity

In related 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 completion of the transaction, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction dated Tuesday, August 5th. The shares were 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 of the company’s stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

ABBV has been the topic of several recent research reports. BMO Capital Markets increased their target price on AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. Berenberg Bank raised AbbVie from a “hold” rating to a “buy” rating and raised their price objective for the stock from $170.00 to $270.00 in a research report on Wednesday, September 17th. Raymond James Financial reissued an “outperform” rating and issued a $250.00 price objective (up previously from $236.00) on shares of AbbVie in a research report on Friday, October 17th. Guggenheim raised their price objective on AbbVie from $227.00 to $242.00 and gave the stock a “buy” rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised their price objective on AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $234.80.

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.