Kanawha Capital Management LLC Grows Stock Position in AbbVie Inc. (NYSE:ABBV)

Kanawha Capital Management LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 144,105 shares of the company's stock after acquiring an additional 1,673 shares during the quarter. AbbVie comprises 2.0% of Kanawha Capital Management LLC's holdings, making the stock its 11th largest holding. Kanawha Capital Management LLC's holdings in AbbVie were worth $25,608,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. AMF Tjanstepension AB purchased a new position in shares of AbbVie in the third quarter valued at approximately $8,777,000. Creative Planning increased its position in shares of AbbVie by 5.8% during the third quarter. Creative Planning now owns 750,811 shares of the company's stock worth $147,086,000 after acquiring an additional 40,925 shares during the period. Swedbank AB raised its stake in shares of AbbVie by 0.3% in the third quarter. Swedbank AB now owns 2,147,126 shares of the company's stock valued at $424,014,000 after acquiring an additional 6,810 shares in the last quarter. ERn Financial LLC acquired a new stake in shares of AbbVie in the third quarter valued at $215,000. Finally, Kapitalo Investimentos Ltda purchased a new position in AbbVie in the third quarter valued at $259,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares of the company's stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on ABBV. Leerink Partnrs raised AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. Bank of America reiterated a "neutral" rating and set a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. Morgan Stanley raised their price objective on shares of AbbVie from $224.00 to $239.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Argus upgraded shares of AbbVie from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Finally, Piper Sandler Companies reissued an "overweight" rating and issued a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $208.35.

AbbVie Price Performance

Shares of ABBV stock traded down $0.45 during midday trading on Monday, reaching $193.00. 3,974,116 shares of the company traded hands, compared to its average volume of 6,372,861. The firm's 50 day simple moving average is $178.93 and its two-hundred day simple moving average is $186.04. The firm has a market cap of $341.05 billion, a PE ratio of 80.42, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the firm earned $2.79 EPS. On average, equities research analysts expect that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's dividend payout ratio is presently 273.33%.

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.