Kowal Investment Group LLC Has $2.61 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Kowal Investment Group LLC increased its position in AbbVie Inc. (NYSE:ABBV) by 13.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,335 shares of the company’s stock after purchasing an additional 1,671 shares during the quarter. AbbVie makes up 0.6% of Kowal Investment Group LLC’s portfolio, making the stock its 23rd biggest position. Kowal Investment Group LLC’s holdings in AbbVie were worth $2,610,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Vermillion & White Wealth Management Group LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $26,000. IFS Advisors LLC acquired a new position in shares of AbbVie during the 1st quarter worth about $36,000. Able Wealth Management LLC bought a new position in shares of AbbVie during the 4th quarter valued at about $33,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of AbbVie during the 4th quarter valued at about $37,000. Finally, Clarity Asset Management Inc. bought a new position in shares of AbbVie during the 4th quarter valued at about $42,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Down 0.7 %

NYSE:ABBV opened at $170.37 on Tuesday. The firm has a market capitalization of $300.85 billion, a price-to-earnings ratio of 50.56, a price-to-earnings-growth ratio of 2.19 and a beta of 0.64. AbbVie Inc. has a twelve month low of $132.70 and a twelve month high of $182.89. The stock’s 50 day moving average price is $164.60 and its two-hundred day moving average price is $167.63. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.46 EPS. Equities research analysts expect that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 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 3.64%. The ex-dividend date is Monday, July 15th. AbbVie’s payout ratio is presently 183.98%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ABBV shares. BMO Capital Markets cut their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Barclays cut their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a report on Wednesday, June 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a report on Thursday, June 20th. Finally, Guggenheim boosted their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $179.64.

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.