AbbVie Inc. (NYSE:ABBV) Shares Purchased by Kelly Financial Services LLC

Kelly Financial Services LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 7.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,497 shares of the company’s stock after purchasing an additional 104 shares during the period. Kelly Financial Services LLC’s holdings in AbbVie were worth $266,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Stillwater Capital Advisors LLC boosted its position in shares of AbbVie by 1.1% in the fourth quarter. Stillwater Capital Advisors LLC now owns 90,816 shares of the company’s stock worth $16,138,000 after buying an additional 1,018 shares during the period. Aaron Wealth Advisors LLC boosted its stake in AbbVie by 6.5% during the 4th quarter. Aaron Wealth Advisors LLC now owns 10,719 shares of the company’s stock valued at $1,905,000 after purchasing an additional 651 shares during the period. Sandy Cove Advisors LLC raised its stake in AbbVie by 13.3% during the 4th quarter. Sandy Cove Advisors LLC now owns 1,592 shares of the company’s stock valued at $283,000 after purchasing an additional 187 shares during the last quarter. Wealth Alliance Advisory Group LLC increased its stake in AbbVie by 21.7% during the fourth quarter. Wealth Alliance Advisory Group LLC now owns 9,276 shares of the company’s stock valued at $1,648,000 after acquiring an additional 1,656 shares during the period. Finally, Moss Adams Wealth Advisors LLC raised its stake in shares of AbbVie by 4.5% in the fourth quarter. Moss Adams Wealth Advisors LLC now owns 4,706 shares of the company’s stock valued at $836,000 after purchasing an additional 203 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ABBV. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a report on Friday, November 22nd. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Truist Financial dropped their target price on AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, BMO Capital Markets dropped their price objective on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie Price Performance

Shares of NYSE ABBV opened at $171.49 on Monday. The stock has a market capitalization of $303.05 billion, a P/E ratio of 59.55, a P/E/G ratio of 1.73 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The company’s 50-day moving average is $175.78 and its 200 day moving average is $184.75. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the previous year, the firm earned $2.95 EPS. AbbVie’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts expect that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

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

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.