Keel Point LLC Purchases 633 Shares of AbbVie Inc. (NYSE:ABBV)

Keel Point LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,275 shares of the company’s stock after purchasing an additional 633 shares during the period. Keel Point LLC’s holdings in AbbVie were worth $1,826,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ABBV. Fiduciary Advisors Inc. acquired a new position in AbbVie during the fourth quarter worth about $29,000. EnRich Financial Partners LLC boosted its holdings in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after acquiring an additional 110 shares during the last quarter. Promus Capital LLC bought a new stake in AbbVie in the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of AbbVie during the 4th quarter worth approximately $31,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of AbbVie in the 4th quarter worth $32,000. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the topic of several analyst reports. Wells Fargo & Company boosted their price target on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. StockNews.com upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Monday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Truist Financial upped their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, BMO Capital Markets increased their price target on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $211.41.

Insider Transactions at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the sale, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,471 shares of company stock valued at $23,426,451 in the last quarter. 0.25% of the stock is currently owned by company insiders.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $195.15 on Thursday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The stock has a market capitalization of $345.22 billion, a PE ratio of 81.31, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. The stock has a 50 day moving average price of $196.46 and a 200 day moving average price of $187.22. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.31 earnings per share. Analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.36%. AbbVie’s payout ratio is 279.15%.

AbbVie Company 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.