AbbVie Inc. (NYSE:ABBV) Shares Acquired by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 6.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 116,306 shares of the company's stock after purchasing an additional 7,289 shares during the quarter. Kestra Private Wealth Services LLC's holdings in AbbVie were worth $18,024,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABBV. KRS Capital Management LLC raised its stake in AbbVie by 2.9% during the third quarter. KRS Capital Management LLC now owns 9,954 shares of the company's stock valued at $1,484,000 after buying an additional 284 shares in the last quarter. TFG Advisers LLC lifted its stake in AbbVie by 3.7% during the third quarter. TFG Advisers LLC now owns 20,068 shares of the company's stock worth $2,991,000 after purchasing an additional 707 shares during the last quarter. Zullo Investment Group Inc. boosted its holdings in AbbVie by 6.0% in the third quarter. Zullo Investment Group Inc. now owns 5,064 shares of the company's stock worth $755,000 after purchasing an additional 285 shares during the period. Walkner Condon Financial Advisors LLC increased its stake in AbbVie by 5.1% during the third quarter. Walkner Condon Financial Advisors LLC now owns 2,254 shares of the company's stock valued at $336,000 after purchasing an additional 109 shares during the last quarter. Finally, Accel Wealth Management raised its holdings in shares of AbbVie by 9.6% during the third quarter. Accel Wealth Management now owns 4,517 shares of the company's stock worth $673,000 after purchasing an additional 397 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Up 1.2 %

NYSE:ABBV traded up $1.90 during trading hours on Monday, reaching $161.52. The company's stock had a trading volume of 6,225,981 shares, compared to its average volume of 5,665,017. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The business's 50-day moving average is $174.27 and its 200-day moving average is $161.00. The company has a debt-to-equity ratio of 5.02, a current ratio of 0.87 and a quick ratio of 0.76. The company has a market cap of $286.00 billion, a price-to-earnings ratio of 47.93, a price-to-earnings-growth ratio of 2.03 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The company had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter in the prior year, the company posted $2.46 EPS. The firm's revenue was up .7% on a year-over-year basis. Equities research analysts predict that AbbVie Inc. will post 11.19 EPS for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Friday, April 12th. AbbVie's dividend payout ratio (DPR) is 183.98%.

Insider Activity

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business's stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the transaction, the executive vice president now owns 243,944 shares of the company's stock, valued at approximately $42,375,512.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now directly owns 243,944 shares of the company's stock, valued at approximately $42,375,512.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares in the company, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on ABBV. Raymond James increased their price objective on shares of AbbVie from $181.00 to $189.00 and gave the stock an "outperform" rating in a research note on Monday, February 5th. William Blair raised AbbVie from a "market perform" rating to an "outperform" rating in a report on Monday, January 29th. Truist Financial upped their price objective on AbbVie from $180.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, February 6th. Guggenheim boosted their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a "buy" rating in a report on Friday, March 22nd. Finally, Barclays cut their price objective on shares of AbbVie from $195.00 to $187.00 and set an "overweight" rating on the stock in a research report on Monday. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $174.31.

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.

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