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

Keybank National Association OH trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,044,828 shares of the company’s stock after selling 6,943 shares during the quarter. AbbVie comprises 0.8% of Keybank National Association OH’s portfolio, making the stock its 22nd largest holding. Keybank National Association OH owned about 0.06% of AbbVie worth $241,920,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ABBV. Brighton Jones LLC increased its stake in AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after buying an additional 3,401 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after acquiring an additional 3,064 shares in the last quarter. Pure Financial Advisors LLC increased its stake in shares of AbbVie by 27.0% during the second quarter. Pure Financial Advisors LLC now owns 9,564 shares of the company’s stock valued at $1,775,000 after acquiring an additional 2,035 shares during the period. Lecap Asset Management Ltd. bought a new stake in AbbVie during the second quarter worth approximately $488,000. Finally, Patriot Financial Group Insurance Agency LLC lifted its position in AbbVie by 12.7% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 5,007 shares of the company’s stock worth $929,000 after purchasing an additional 566 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Up 1.2%

NYSE ABBV opened at $223.02 on Friday. AbbVie Inc. has a 1 year low of $164.39 and a 1 year high of $244.81. The company has a market cap of $394.15 billion, a PE ratio of 168.95, a PEG ratio of 0.91 and a beta of 0.36. The stock’s 50-day moving average price is $224.40 and its two-hundred day moving average price is $218.24.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, October 31st. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.09. The business had revenue of $15.78 billion for the quarter, compared to the consensus estimate of $15.58 billion. AbbVie had a net margin of 4.00% and a return on equity of 3,216.47%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $3.00 earnings per share. Research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ABBV shares. Hsbc Global Res upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 10th. Erste Group Bank lowered AbbVie from a “buy” rating to a “hold” rating in a report on Tuesday, October 14th. Piper Sandler reissued an “overweight” rating and issued a $289.00 price target (up from $284.00) on shares of AbbVie in a report on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of AbbVie in a research report on Wednesday, January 21st. Finally, Guggenheim boosted their target price on shares of AbbVie from $227.00 to $242.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $249.37.

AbbVie Company Profile

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.