KFA Private Wealth Group LLC Grows Stock Holdings in AbbVie Inc. (NYSE:ABBV)

KFA Private Wealth Group LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 12.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,935 shares of the company’s stock after purchasing an additional 217 shares during the period. KFA Private Wealth Group LLC’s holdings in AbbVie were worth $344,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC lifted its position in AbbVie by 1,745.0% in the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after acquiring an additional 4,471,806 shares during the last quarter. State Street Corp lifted its position in AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after acquiring an additional 1,267,685 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in AbbVie by 59.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company’s stock valued at $414,088,000 after acquiring an additional 781,858 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in AbbVie by 6.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after acquiring an additional 582,953 shares during the last quarter. Finally, Saturna Capital Corp lifted its position in AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after acquiring an additional 560,808 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Down 1.1 %

Shares of AbbVie stock opened at $174.88 on Wednesday. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company’s 50-day simple moving average is $176.05 and its 200-day simple moving average is $184.94. The firm has a market cap of $309.04 billion, a price-to-earnings ratio of 60.72, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period in the prior year, the business posted $2.95 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current year.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on ABBV. Guggenheim boosted their price target on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Bank of America reissued a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a research report on Tuesday, December 10th. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research report on Thursday, December 5th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Finally, BMO Capital Markets reduced their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $205.00.

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.