Keybank National Association OH Raises Stake in AbbVie Inc. (NYSE:ABBV)

Keybank National Association OH lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 27.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,060,933 shares of the company's stock after acquiring an additional 226,926 shares during the period. AbbVie accounts for about 0.9% of Keybank National Association OH's holdings, making the stock its 21st biggest position. Keybank National Association OH owned approximately 0.06% of AbbVie worth $222,287,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. EnRich Financial Partners LLC grew its stake in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC acquired a new stake in shares of AbbVie during the fourth quarter worth $30,000. Prudent Man Investment Management Inc. purchased a new position in AbbVie in the 4th quarter valued at $32,000. Siemens Fonds Invest GmbH raised its position in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after buying an additional 119,141 shares during the last quarter. Finally, Pinney & Scofield Inc. purchased a new position in AbbVie during the 4th quarter worth $36,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

NYSE:ABBV traded down $1.25 during mid-day trading on Friday, hitting $189.50. 3,706,217 shares of the company's stock traded hands, compared to its average volume of 6,248,905. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The company has a market cap of $334.73 billion, a PE ratio of 80.64, a price-to-earnings-growth ratio of 1.27 and a beta of 0.48. The firm's 50 day simple moving average is $187.30 and its 200 day simple moving average is $188.36. AbbVie Inc. has a 1 year low of $163.63 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. During the same period last year, the company posted $2.31 EPS. The company's revenue was up 8.4% on a year-over-year basis. Sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's payout ratio is 279.15%.

Analyst Ratings Changes

Several analysts have recently weighed in on ABBV shares. Evercore ISI lifted their target price on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Erste Group Bank raised AbbVie to a "strong-buy" rating in a report on Monday, March 17th. BNP Paribas upgraded AbbVie to a "hold" rating in a research report on Thursday, May 8th. Cantor Fitzgerald began coverage on AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target for the company. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, AbbVie presently has an average rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Company 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.