AbbVie Inc. (NYSE:ABBV) is Keynote Financial Services LLC’s 2nd Largest Position

Keynote Financial Services LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,999 shares of the company’s stock after purchasing an additional 246 shares during the quarter. AbbVie accounts for approximately 5.6% of Keynote Financial Services LLC’s holdings, making the stock its 2nd biggest position. Keynote Financial Services LLC’s holdings in AbbVie were worth $7,286,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. Swedbank AB lifted its holdings in shares of AbbVie by 0.3% in the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after buying an additional 6,810 shares during the period. Howard Capital Management Group LLC raised its position in AbbVie by 20.3% in the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company’s stock worth $397,000 after acquiring an additional 339 shares in the last quarter. Lowe Brockenbrough & Co. Inc. lifted its holdings in AbbVie by 15.9% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 31,274 shares of the company’s stock valued at $6,176,000 after acquiring an additional 4,299 shares during the period. Weatherly Asset Management L. P. boosted its position in shares of AbbVie by 13.0% during the 3rd quarter. Weatherly Asset Management L. P. now owns 10,010 shares of the company’s stock worth $1,977,000 after purchasing an additional 1,152 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of AbbVie by 18.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 23,263 shares of the company’s stock worth $4,594,000 after purchasing an additional 3,542 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research analyst reports. Guggenheim raised their price objective on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. BMO Capital Markets raised their price objective on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Five investment 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 stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $209.07 on Friday. The company has a 50-day simple moving average of $184.42 and a 200-day simple moving average of $186.95. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The company has a market cap of $369.09 billion, a PE ratio of 87.11, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $209.60.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate 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 quarter in the previous year, the firm earned $2.79 earnings per share. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.14%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Insiders Place Their Bets

In related news, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,439 shares of company stock valued at $11,377,057. 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.