Key Financial Inc Increases Holdings in AbbVie Inc. (NYSE:ABBV)

Key Financial Inc raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,615 shares of the company’s stock after buying an additional 315 shares during the period. Key Financial Inc’s holdings in AbbVie were worth $2,775,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Waycross Partners LLC increased its stake in AbbVie by 3.1% in the 4th quarter. Waycross Partners LLC now owns 135,004 shares of the company’s stock worth $23,990,000 after buying an additional 4,019 shares in the last quarter. BKM Wealth Management LLC boosted its holdings in shares of AbbVie by 20.3% during the 4th quarter. BKM Wealth Management LLC now owns 1,815 shares of the company’s stock valued at $323,000 after purchasing an additional 306 shares during the last quarter. Kestra Investment Management LLC boosted its holdings in shares of AbbVie by 28.6% during the 4th quarter. Kestra Investment Management LLC now owns 7,108 shares of the company’s stock valued at $1,263,000 after purchasing an additional 1,579 shares during the last quarter. Beaton Management Co. Inc. lifted its holdings in shares of AbbVie by 1.1% in the 4th quarter. Beaton Management Co. Inc. now owns 10,550 shares of the company’s stock valued at $1,875,000 after acquiring an additional 116 shares during the last quarter. Finally, Hudson Canyon Capital Management lifted its holdings in shares of AbbVie by 13.3% in the 4th quarter. Hudson Canyon Capital Management now owns 9,800 shares of the company’s stock valued at $1,741,000 after acquiring an additional 1,150 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of recent analyst reports. Citigroup increased their price objective on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Morgan Stanley lifted their price objective on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Truist Financial lifted their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Piper Sandler raised their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, BMO Capital Markets lifted their price objective on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Stock Down 0.2 %

ABBV opened at $193.00 on Tuesday. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a fifty day moving average of $178.93 and a two-hundred day moving average of $186.04. The stock has a market capitalization of $341.05 billion, a price-to-earnings ratio of 80.42, a PEG ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same quarter in the previous year, the firm posted $2.79 earnings per share. On average, research analysts expect that AbbVie Inc. will post 12.32 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. 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 3.40%. AbbVie’s dividend payout ratio is currently 273.33%.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.25% of the company’s stock.

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.