AbbVie Inc. (NYSE:ABBV) Stake Increased by Kovack Advisors Inc.


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Kovack Advisors Inc. increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,152 shares of the company’s stock after buying an additional 694 shares during the quarter. Kovack Advisors Inc.’s holdings in AbbVie were worth $2,695,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Aurora Investment Counsel increased its stake in shares of AbbVie by 1.0% in the third quarter. Aurora Investment Counsel now owns 9,483 shares of the company’s stock worth $941,000 after acquiring an additional 98 shares during the last quarter. Central Bank & Trust Co. increased its position in AbbVie by 10.7% in the 4th quarter. Central Bank & Trust Co. now owns 1,033 shares of the company’s stock worth $111,000 after purchasing an additional 100 shares during the last quarter. Quad Cities Investment Group LLC raised its stake in shares of AbbVie by 2.5% during the 3rd quarter. Quad Cities Investment Group LLC now owns 4,287 shares of the company’s stock worth $376,000 after purchasing an additional 106 shares in the last quarter. EPG Wealth Management LLC lifted its holdings in shares of AbbVie by 3.0% during the 3rd quarter. EPG Wealth Management LLC now owns 4,035 shares of the company’s stock valued at $353,000 after buying an additional 116 shares during the last quarter. Finally, Mendel Money Management grew its stake in shares of AbbVie by 1.1% in the 3rd quarter. Mendel Money Management now owns 11,070 shares of the company’s stock valued at $970,000 after buying an additional 120 shares in the last quarter. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

In other AbbVie news, CEO Richard A. Gonzalez sold 231,604 shares of AbbVie stock in a transaction dated Thursday, November 12th. The shares were sold at an average price of $96.88, for a total transaction of $22,437,795.52. Also, EVP Jeffrey Ryan Stewart sold 25,290 shares of the company’s stock in a transaction dated Tuesday, December 29th. The shares were sold at an average price of $105.00, for a total transaction of $2,655,450.00. Following the completion of the sale, the executive vice president now directly owns 76,259 shares in the company, valued at approximately $8,007,195. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 308,884 shares of company stock valued at $30,552,196. 0.09% of the stock is currently owned by corporate insiders.

Several research firms recently issued reports on ABBV. Sanford C. Bernstein assumed coverage on shares of AbbVie in a research note on Tuesday, November 10th. They issued an “outperform” rating and a $120.00 price objective for the company. SVB Leerink raised their price objective on shares of AbbVie from $119.00 to $128.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 16th. JPMorgan Chase & Co. lifted their price objective on AbbVie from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, October 16th. The Goldman Sachs Group cut shares of AbbVie from a “neutral” rating to a “sell” rating in a research note on Tuesday, October 20th. Finally, Morgan Stanley upped their price target on AbbVie from $108.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, November 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $112.50.

Shares of ABBV stock traded down $0.31 on Thursday, reaching $112.14. The company’s stock had a trading volume of 242,156 shares, compared to its average volume of 7,896,617. AbbVie Inc. has a 12-month low of $62.55 and a 12-month high of $113.41. The company has a quick ratio of 0.81, a current ratio of 0.95 and a debt-to-equity ratio of 5.38. The company has a market capitalization of $197.98 billion, a P/E ratio of 23.79, a PEG ratio of 1.49 and a beta of 0.84. The stock’s 50 day simple moving average is $105.61 and its 200-day simple moving average is $96.04.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 30th. The company reported $2.83 EPS for the quarter, topping the consensus estimate of $2.75 by $0.08. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. The firm had revenue of $12.88 billion for the quarter, compared to the consensus estimate of $12.71 billion. During the same period last year, the firm posted $2.33 earnings per share. The business’s revenue was up 51.9% compared to the same quarter last year. Research analysts expect that AbbVie Inc. will post 10.48 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 16th. Shareholders of record on Friday, January 15th will be given a dividend of $1.30 per share. This is a positive change from AbbVie’s previous quarterly dividend of $1.18. This represents a $5.20 annualized dividend and a yield of 4.64%. The ex-dividend date is Thursday, January 14th. AbbVie’s dividend payout ratio is presently 52.80%.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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