Kestra Private Wealth Services LLC Grows Holdings in AbbVie Inc. (NYSE:ABBV)

Kestra Private Wealth Services LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 3.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 153,525 shares of the company's stock after acquiring an additional 5,423 shares during the period. Kestra Private Wealth Services LLC's holdings in AbbVie were worth $32,167,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ABBV. Brighton Jones LLC boosted its stake in shares of AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after buying an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after buying an additional 3,064 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of AbbVie by 50.8% during the 4th quarter. Proficio Capital Partners LLC now owns 6,622 shares of the company's stock worth $1,177,000 after buying an additional 2,230 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of AbbVie by 1.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 100,719 shares of the company's stock worth $17,898,000 after buying an additional 1,297 shares during the last quarter. Finally, DCF Advisers LLC boosted its stake in shares of AbbVie by 1.6% during the 4th quarter. DCF Advisers LLC now owns 31,500 shares of the company's stock worth $5,598,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Price Performance

AbbVie stock traded down $2.14 during mid-day trading on Friday, reaching $189.26. The company had a trading volume of 5,331,983 shares, compared to its average volume of 6,326,641. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The company has a market cap of $334.31 billion, a P/E ratio of 80.54, a P/E/G ratio of 1.25 and a beta of 0.48. The business has a fifty day simple moving average of $187.17 and a 200 day simple moving average of $189.38.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.31 earnings per share. On average, equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio is presently 279.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Guggenheim upped their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Citigroup upped their target price on shares of AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Morgan Stanley upped their target price on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Finally, Evercore ISI upped 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. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $211.29.

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.