Hayek Kallen Investment Management Has $3 Million Stock Holdings in AbbVie Inc (NYSE:ABBV)

Hayek Kallen Investment Management reduced its stake in shares of AbbVie Inc (NYSE:ABBV) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 30,528 shares of the company’s stock after selling 269 shares during the period. AbbVie makes up approximately 1.7% of Hayek Kallen Investment Management’s holdings, making the stock its 22nd biggest holding. Hayek Kallen Investment Management’s holdings in AbbVie were worth $2,997,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABBV. Capstone Financial Group Inc. bought a new position in AbbVie in the 2nd quarter valued at $25,000. RMR Wealth Builders purchased a new position in AbbVie during the second quarter worth about $44,000. Lake Point Wealth Management increased its stake in AbbVie by 179.4% in the 1st quarter. Lake Point Wealth Management now owns 475 shares of the company’s stock worth $36,000 after acquiring an additional 305 shares during the last quarter. NWK Group Inc. purchased a new stake in shares of AbbVie in the 1st quarter valued at about $42,000. Finally, Weaver Consulting Group lifted its holdings in shares of AbbVie by 64.3% during the 2nd quarter. Weaver Consulting Group now owns 562 shares of the company’s stock worth $55,000 after acquiring an additional 220 shares during the last quarter. 68.23% of the stock is currently owned by hedge funds and other institutional investors.

ABBV has been the subject of several research analyst reports. Mizuho lifted their price target on AbbVie from $110.00 to $111.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Piper Sandler upped their target price on AbbVie from $97.00 to $110.00 in a research note on Wednesday, June 10th. ValuEngine cut AbbVie from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 27th. Argus raised AbbVie from a “hold” rating to a “buy” rating and lifted their price target for the stock from $91.40 to $115.00 in a research note on Tuesday, June 2nd. Finally, Atlantic Securities raised shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $115.00 target price on the stock in a research note on Tuesday, June 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $108.33.

Shares of NYSE ABBV traded down $1.13 during midday trading on Wednesday, hitting $89.78. The stock had a trading volume of 6,302,844 shares, compared to its average volume of 10,050,307. The business’s 50 day moving average is $93.82 and its 200-day moving average is $89.39. AbbVie Inc has a 52 week low of $62.55 and a 52 week high of $101.28. The company has a quick ratio of 0.70, a current ratio of 0.86 and a debt-to-equity ratio of 5.57. The company has a market cap of $159.70 billion, a P/E ratio of 19.18, a PEG ratio of 1.45 and a beta of 0.75.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 31st. The company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.14. The business had revenue of $10.43 billion for the quarter, compared to analysts’ expectations of $10.14 billion. AbbVie had a negative return on equity of 628.57% and a net margin of 19.20%. The firm’s quarterly revenue was up 26.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.26 EPS. As a group, analysts expect that AbbVie Inc will post 10.46 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be issued a $1.18 dividend. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $4.72 annualized dividend and a yield of 5.26%. AbbVie’s payout ratio is 52.80%.

In other AbbVie news, Vice Chairman Carlos Alban sold 53,325 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $100.00, for a total transaction of $5,332,500.00. Following the transaction, the insider now owns 137,899 shares in the company, valued at approximately $13,789,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by company insiders.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, 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; 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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