AbbVie Inc. $ABBV Holdings Decreased by Keybank National Association OH

Keybank National Association OH reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 0.7% in the 3rd quarter, Holdings Channel reports. The fund owned 1,044,828 shares of the company’s stock after selling 6,943 shares during the period. AbbVie makes up about 0.8% of Keybank National Association OH’s portfolio, making the stock its 22nd biggest position. Keybank National Association OH’s holdings in AbbVie were worth $241,920,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in AbbVie in the 2nd quarter worth approximately $4,288,200,000. Laurel Wealth Advisors LLC increased its stake in shares of AbbVie by 18,384.4% in the second quarter. Laurel Wealth Advisors LLC now owns 5,705,964 shares of the company’s stock worth $1,059,141,000 after acquiring an additional 5,675,095 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of AbbVie by 1.9% during the second quarter. Vanguard Group Inc. now owns 177,298,707 shares of the company’s stock worth $32,910,186,000 after acquiring an additional 3,380,842 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in AbbVie by 169.3% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,722,893 shares of the company’s stock valued at $876,662,000 after purchasing an additional 2,969,202 shares in the last quarter. Finally, Raymond James Financial Inc. increased its position in AbbVie by 41.8% in the 2nd quarter. Raymond James Financial Inc. now owns 9,337,480 shares of the company’s stock worth $1,733,222,000 after purchasing an additional 2,753,312 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

NYSE ABBV opened at $223.02 on Friday. AbbVie Inc. has a 52-week low of $164.39 and a 52-week high of $244.81. The firm has a market capitalization of $394.15 billion, a price-to-earnings ratio of 168.95, a P/E/G ratio of 0.91 and a beta of 0.36. The company’s fifty day moving average is $224.40 and its two-hundred day moving average is $218.24.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 31st. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.77 by $0.09. AbbVie had a return on equity of 3,216.47% and a net margin of 4.00%.The firm had revenue of $15.78 billion during the quarter, compared to analysts’ expectations of $15.58 billion. During the same quarter in the prior year, the firm posted $3.00 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

ABBV has been the subject of several research reports. UBS Group reiterated a “neutral” rating on shares of AbbVie in a report on Tuesday, January 13th. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 3rd. Cantor Fitzgerald set a $250.00 target price on shares of AbbVie and gave the stock an “overweight” rating in a research report on Thursday, October 9th. Bank of America raised their price target on shares of AbbVie from $220.00 to $251.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of AbbVie from $250.00 to $260.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $249.37.

About AbbVie

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.