Kanawha Capital Management LLC Raises Position in AbbVie Inc. (NYSE:ABBV)

Kanawha Capital Management LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 144,105 shares of the company’s stock after acquiring an additional 1,673 shares during the quarter. AbbVie accounts for about 2.0% of Kanawha Capital Management LLC’s portfolio, making the stock its 11th largest position. Kanawha Capital Management LLC’s holdings in AbbVie were worth $25,608,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of AbbVie during the third quarter worth approximately $999,000. Saturna Capital Corp grew its holdings in AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after acquiring an additional 560,808 shares in the last quarter. Everence Capital Management Inc. grew its holdings in AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after acquiring an additional 15,550 shares in the last quarter. GAMMA Investing LLC increased its position in shares of AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after purchasing an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC raised its holdings in shares of AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after purchasing an additional 10,768 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

NYSE:ABBV opened at $193.54 on Friday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm has a market cap of $342.00 billion, a price-to-earnings ratio of 80.64, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. The firm’s fifty day moving average price is $178.24 and its 200 day moving average price is $185.91. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 company posted $2.79 earnings per share. On average, sell-side analysts expect that AbbVie Inc. will post 12.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ABBV shares. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research report on Thursday, December 5th. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. UBS Group increased their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley boosted their price objective on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by corporate insiders.

AbbVie 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.