Kestra Private Wealth Services LLC Buys 8,835 Shares of AbbVie Inc. (NYSE:ABBV)

Kestra Private Wealth Services LLC grew its stake in AbbVie Inc. (NYSE:ABBV) by 6.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 148,102 shares of the company’s stock after acquiring an additional 8,835 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in AbbVie were worth $26,318,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ABBV. GGM Financials LLC grew its holdings in shares of AbbVie by 0.7% during the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after buying an additional 50 shares during the last quarter. Dillon & Associates Inc. increased its holdings in AbbVie by 0.8% in the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after buying an additional 52 shares in the last quarter. Sunflower Bank N.A. raised its position in AbbVie by 0.4% in the 3rd quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock worth $2,710,000 after buying an additional 53 shares during the last quarter. Professional Financial Advisors LLC lifted its stake in AbbVie by 3.4% during the 3rd quarter. Professional Financial Advisors LLC now owns 1,638 shares of the company’s stock valued at $323,000 after acquiring an additional 54 shares during the period. Finally, WFA Asset Management Corp grew its stake in shares of AbbVie by 0.8% in the third quarter. WFA Asset Management Corp now owns 7,003 shares of the company’s stock worth $1,383,000 after acquiring an additional 55 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of research analyst reports. Truist Financial increased their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. BMO Capital Markets increased their price objective on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Finally, Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Stock Down 1.2 %

Shares of ABBV opened at $190.67 on Friday. The business’s 50 day simple moving average is $177.54 and its 200-day simple moving average is $185.60. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. 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 stock has a market capitalization of $336.94 billion, a price-to-earnings ratio of 79.45, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the previous year, the firm earned $2.79 earnings per share. As a group, equities analysts expect that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

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.