GKV Capital Management Co. Inc. Makes New $530,000 Investment in AbbVie Inc. (NYSE:ABBV)

GKV Capital Management Co. Inc. bought a new stake in AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,980 shares of the company’s stock, valued at approximately $530,000.

Several other hedge funds have also made changes to their positions in the business. Fiduciary Advisors Inc. purchased a new stake in AbbVie during the 4th quarter valued at approximately $29,000. EnRich Financial Partners LLC increased its holdings in shares of 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 purchasing an additional 110 shares during the period. Promus Capital LLC purchased a new stake in shares of AbbVie during the fourth quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie during the fourth quarter worth $31,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of AbbVie during the fourth quarter worth $32,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 3.0 %

AbbVie stock opened at $171.57 on Thursday. The stock has a market cap of $303.50 billion, a PE ratio of 71.49, a P/E/G ratio of 1.62 and a beta of 0.55. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a 50-day moving average price of $199.21 and a 200 day moving average price of $188.16. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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 quarter last year, the business posted $2.79 earnings per share. Equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Analysts Set New Price Targets

Several equities analysts have issued reports on ABBV shares. Morgan Stanley reissued a “hold” rating on shares of AbbVie in a research note on Friday, April 11th. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Citigroup raised their price objective on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. StockNews.com cut AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 9th. Finally, BMO Capital Markets raised their price target on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $210.71.

Insider Activity

In related news, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. The trade was a 52.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,471 shares of company stock valued at $23,426,451 over the last quarter. Company insiders own 0.25% of the company’s stock.

About AbbVie

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.