AbbVie Inc. $ABBV Shares Acquired by MOKAN Wealth Management Inc.

MOKAN Wealth Management Inc. raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 21.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,297 shares of the company’s stock after acquiring an additional 3,236 shares during the period. AbbVie makes up 1.9% of MOKAN Wealth Management Inc.’s holdings, making the stock its 16th biggest holding. MOKAN Wealth Management Inc.’s holdings in AbbVie were worth $3,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC boosted its stake in shares of AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after purchasing an additional 3,401 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after purchasing an additional 3,064 shares during the period. GAMMA Investing LLC boosted its stake in shares of AbbVie by 23.8% in the first quarter. GAMMA Investing LLC now owns 48,848 shares of the company’s stock valued at $10,235,000 after purchasing an additional 9,395 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of AbbVie by 5.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 536,450 shares of the company’s stock valued at $112,398,000 after purchasing an additional 25,385 shares during the period. Finally, Hennessy Advisors Inc. boosted its stake in shares of AbbVie by 6.0% in the first quarter. Hennessy Advisors Inc. now owns 31,900 shares of the company’s stock valued at $6,684,000 after purchasing an additional 1,800 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several recent research reports. Morgan Stanley raised their price objective on shares of AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Berenberg Bank raised shares of AbbVie from a “hold” rating to a “buy” rating and raised their price objective for the company from $170.00 to $270.00 in a research note on Wednesday, September 17th. Daiwa America raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. raised their price objective on shares of AbbVie from $200.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Finally, Hsbc Global Res lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $231.90.

AbbVie Stock Up 0.1%

Shares of AbbVie stock opened at $230.88 on Monday. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $244.81. The company has a 50 day moving average of $214.84 and a 200 day moving average of $196.71. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The company has a market capitalization of $407.86 billion, a P/E ratio of 109.94, a P/E/G ratio of 1.42 and a beta of 0.51.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $14.93 billion. During the same quarter in the prior year, the firm earned $2.65 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. As a group, research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s payout ratio is currently 312.38%.

Insider Activity at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the sale, the executive vice president owned 177,292 shares of the company’s stock, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

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.