Kozak & Associates Inc. Increases Stock Position in AbbVie Inc. (NYSE:ABBV)

Kozak & Associates Inc. boosted its stake in AbbVie Inc. (NYSE:ABBV) by 14.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,682 shares of the company’s stock after acquiring an additional 211 shares during the period. Kozak & Associates Inc.’s holdings in AbbVie were worth $320,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fairway Wealth LLC purchased a new stake in shares of AbbVie in the second quarter valued at about $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie during the second quarter worth about $27,000. Marquette Asset Management LLC acquired a new position in shares of AbbVie during the third quarter worth about $39,000. Redmont Wealth Advisors LLC acquired a new position in shares of AbbVie during the first quarter worth about $37,000. Finally, Quest Partners LLC increased its stake in shares of AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ABBV shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research note on Monday, August 5th. Barclays raised their price objective on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Truist Financial upped their target price on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. William Blair raised AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Sanford C. Bernstein assumed coverage on AbbVie in a research note on Thursday. They issued a “market perform” rating and a $203.00 price objective for the company. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $198.69.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’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 completion of the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.25% of the company’s stock.

AbbVie Price Performance

NYSE:ABBV opened at $188.57 on Friday. The firm has a market cap of $332.99 billion, a price-to-earnings ratio of 55.96, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The company’s 50-day moving average is $194.46 and its two-hundred day moving average is $177.70. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $199.95.

AbbVie (NYSE:ABBV) last released its earnings results 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 company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.91 EPS. Research analysts expect that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Tuesday, October 15th. AbbVie’s dividend payout ratio is currently 183.98%.

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.