Kavar Capital Partners Group LLC Has $9.37 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Kavar Capital Partners Group LLC lowered its stake in AbbVie Inc. (NYSE:ABBV) by 1.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,437 shares of the company’s stock after selling 491 shares during the period. AbbVie accounts for 1.5% of Kavar Capital Partners Group LLC’s holdings, making the stock its 16th largest holding. Kavar Capital Partners Group LLC’s holdings in AbbVie were worth $9,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. Frank Rimerman Advisors LLC lifted its holdings in shares of AbbVie by 2.6% during the third quarter. Frank Rimerman Advisors LLC now owns 26,737 shares of the company’s stock worth $5,280,000 after purchasing an additional 682 shares during the period. Clear Harbor Asset Management LLC lifted its holdings in shares of AbbVie by 2.5% during the third quarter. Clear Harbor Asset Management LLC now owns 33,273 shares of the company’s stock worth $6,571,000 after purchasing an additional 816 shares during the period. Smith Salley Wealth Management lifted its holdings in shares of AbbVie by 2.1% during the third quarter. Smith Salley Wealth Management now owns 168,797 shares of the company’s stock worth $33,334,000 after purchasing an additional 3,548 shares during the period. GHP Investment Advisors Inc. lifted its holdings in shares of AbbVie by 5.4% during the third quarter. GHP Investment Advisors Inc. now owns 6,115 shares of the company’s stock worth $1,208,000 after purchasing an additional 314 shares during the period. Finally, MCF Advisors LLC raised its stake in AbbVie by 1.9% during the third quarter. MCF Advisors LLC now owns 10,508 shares of the company’s stock worth $2,075,000 after buying an additional 199 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ABBV has been the subject of a number of analyst reports. Piper Sandler lifted their target price on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. William Blair raised shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Morgan Stanley lifted their target price on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Piper Sandler Companies reissued an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research note on Wednesday, July 3rd. Finally, Truist Financial lifted their target price on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.39.

AbbVie Stock Down 0.9 %

Shares of NYSE ABBV opened at $187.85 on Friday. The stock has a market capitalization of $331.72 billion, a P/E ratio of 55.74, a P/E/G ratio of 2.66 and a beta of 0.63. The company has a 50-day moving average price of $194.02 and a 200-day moving average price of $178.34. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $2.91 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post 10.85 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio is currently 183.98%.

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.