MOKAN Wealth Management Inc. Makes New $2.85 Million Investment in AbbVie Inc. (NYSE:ABBV)

MOKAN Wealth Management Inc. purchased a new position in AbbVie Inc. (NYSE:ABBV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,034 shares of the company's stock, valued at approximately $2,849,000. AbbVie makes up about 1.8% of MOKAN Wealth Management Inc.'s holdings, making the stock its 17th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. AMF Tjanstepension AB acquired a new position in AbbVie in the third quarter valued at approximately $8,777,000. Creative Planning raised its position in AbbVie by 5.8% in the third quarter. Creative Planning now owns 750,811 shares of the company's stock valued at $147,086,000 after purchasing an additional 40,925 shares during the period. Swedbank AB grew its holdings in shares of AbbVie by 0.3% during the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company's stock worth $424,014,000 after purchasing an additional 6,810 shares during the period. LexAurum Advisors LLC acquired a new stake in shares of AbbVie during the 3rd quarter worth about $229,000. Finally, Howard Capital Management Group LLC raised its holdings in AbbVie by 20.3% in the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company's stock valued at $397,000 after buying an additional 339 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company's stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by insiders.

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AbbVie Stock Up 0.5 %

Shares of NYSE:ABBV traded up $1.05 on Wednesday, hitting $197.30. 4,888,699 shares of the company's stock were exchanged, compared to its average volume of 5,864,376. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The company has a market capitalization of $348.66 billion, a PE ratio of 82.21, a P/E/G ratio of 1.53 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The firm's 50-day moving average is $179.67 and its 200 day moving average is $186.11.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same quarter in the previous year, the business earned $2.79 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 12.32 EPS for the current year.

AbbVie Announces Dividend

The business 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 of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.32%. AbbVie's dividend payout ratio is presently 273.33%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ABBV shares. UBS Group increased their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Wolfe Research initiated coverage on shares of AbbVie in a report on Friday, November 15th. They issued an "outperform" rating and a $205.00 target price for the company. Leerink Partnrs raised AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. Daiwa Capital Markets lowered AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price target for the company. in a research report on Thursday, December 5th. Finally, Daiwa America downgraded AbbVie from a "strong-buy" rating to a "hold" rating in a report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $208.35.

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.