Krilogy Financial LLC Has $2.01 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Krilogy Financial LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 2.0% in the 4th quarter, Holdings Channel reports. The firm owned 11,332 shares of the company’s stock after buying an additional 225 shares during the period. Krilogy Financial LLC’s holdings in AbbVie were worth $2,014,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Sei Investments Co. grew its stake in AbbVie by 11.2% in the second quarter. Sei Investments Co. now owns 484,279 shares of the company’s stock valued at $83,064,000 after acquiring an additional 48,722 shares during the period. Summit Trail Advisors LLC lifted its holdings in shares of AbbVie by 16.6% during the 2nd quarter. Summit Trail Advisors LLC now owns 20,558 shares of the company’s stock valued at $3,526,000 after purchasing an additional 2,924 shares in the last quarter. TPG Advisors LLC acquired a new position in shares of AbbVie in the 2nd quarter valued at approximately $366,000. Tcwp LLC increased its stake in AbbVie by 12.0% during the 2nd quarter. Tcwp LLC now owns 2,936 shares of the company’s stock worth $504,000 after purchasing an additional 315 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its holdings in AbbVie by 1.2% during the 2nd quarter. Westwood Holdings Group Inc. now owns 11,380 shares of the company’s stock worth $1,952,000 after buying an additional 130 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Price Performance

NYSE:ABBV opened at $171.49 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The stock’s 50 day moving average price is $175.78 and its two-hundred day moving average price is $184.60. The firm has a market capitalization of $303.05 billion, a price-to-earnings ratio of 59.55, a P/E/G ratio of 1.73 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter last year, the firm posted $2.95 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.83%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is 215.28%.

Insider Buying and Selling at AbbVie

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

Analyst Upgrades and Downgrades

ABBV has been the subject of several research reports. Bank of America reissued a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a research report on Tuesday, December 10th. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Truist Financial reduced their price objective on AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Citigroup dropped their target price on AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, UBS Group upped their price target on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.50.

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.