AbbVie Inc. (NYSE:ABBV) Stock Position Decreased by Kestra Advisory Services LLC

Kestra Advisory Services LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 347,162 shares of the company’s stock after selling 7,607 shares during the period. Kestra Advisory Services LLC’s holdings in AbbVie were worth $61,691,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Swedbank AB lifted its position in shares of AbbVie by 0.3% during the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock worth $424,014,000 after buying an additional 6,810 shares during the period. Howard Capital Management Group LLC increased its stake in shares of AbbVie by 20.3% in the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock valued at $397,000 after buying an additional 339 shares during the period. Principal Financial Group Inc. boosted its stake in shares of AbbVie by 12.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company’s stock valued at $491,204,000 after purchasing an additional 273,078 shares during the last quarter. United Bank acquired a new stake in AbbVie during the 3rd quarter worth $217,000. Finally, Entropy Technologies LP bought a new stake in AbbVie in the third quarter valued at about $250,000. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares in the company, valued at approximately $2,338,401.36. The trade was a 62.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,439 shares of company stock valued at $11,377,057. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on ABBV shares. BMO Capital Markets raised their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Guggenheim boosted their price objective on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Raymond James reaffirmed an “outperform” rating and issued a $220.00 price objective (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Finally, Wells Fargo & Company increased their price target on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average price target of $211.45.

AbbVie Price Performance

Shares of AbbVie stock opened at $211.90 on Friday. The company’s fifty day simple moving average is $191.09 and its two-hundred day simple moving average is $188.16. The firm has a market cap of $374.07 billion, a PE ratio of 88.29, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the prior year, the company posted $2.79 earnings per share. As a group, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.10%. AbbVie’s dividend payout ratio is presently 273.33%.

AbbVie 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.