Krane Funds Advisors LLC Sells 1,686 Shares of AbbVie Inc. (NYSE:ABBV)

Krane Funds Advisors LLC decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 79.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 431 shares of the company’s stock after selling 1,686 shares during the quarter. Krane Funds Advisors LLC’s holdings in AbbVie were worth $85,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in AbbVie by 6.2% in the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after buying an additional 9,978,415 shares during the last quarter. Capital International Investors raised its position in shares of AbbVie by 6.9% during the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after purchasing an additional 3,110,601 shares during the last quarter. Capital Research Global Investors boosted its holdings in AbbVie by 3.3% in the 1st quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock worth $5,698,847,000 after buying an additional 992,496 shares during the last quarter. Legal & General Group Plc increased its stake in AbbVie by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock worth $2,620,382,000 after buying an additional 134,239 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of AbbVie by 12.8% during the first quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock valued at $1,984,490,000 after acquiring an additional 1,240,434 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on ABBV shares. Piper Sandler boosted their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. BMO Capital Markets raised their price target on shares of AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday. Morgan Stanley upped their price objective on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Truist Financial boosted their target price on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a report on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $198.69.

Insider Activity

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Trading Down 1.0 %

NYSE ABBV opened at $188.57 on Friday. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The stock has a market capitalization of $332.99 billion, a P/E ratio of 55.96, a PEG ratio of 2.66 and a beta of 0.63. The firm’s 50-day moving average is $194.46 and its two-hundred day moving average is $177.70. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.91 EPS. On average, sell-side analysts anticipate that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.29%. AbbVie’s dividend payout ratio is currently 183.98%.

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.