AbbVie Inc. $ABBV Holdings Lowered by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 173,709 shares of the company’s stock after selling 6,916 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in AbbVie were worth $45,440,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABBV. Strategent Financial LLC purchased a new stake in AbbVie in the 3rd quarter valued at $205,000. Guardian Wealth Management Inc. raised its holdings in shares of AbbVie by 0.9% during the 3rd quarter. Guardian Wealth Management Inc. now owns 29,305 shares of the company’s stock worth $7,666,000 after acquiring an additional 265 shares during the period. DeLarme Wealth Management Inc. acquired a new position in shares of AbbVie during the 3rd quarter valued at about $270,000. Clear Point Advisors Inc. acquired a new position in shares of AbbVie during the 3rd quarter valued at about $234,000. Finally, Northeast Investment Management grew its holdings in shares of AbbVie by 51.0% in the third quarter. Northeast Investment Management now owns 18,175 shares of the company’s stock valued at $4,754,000 after purchasing an additional 6,138 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 2.9%

Shares of NYSE ABBV opened at $294.15 on Thursday. The firm has a market cap of $519.71 billion, a price-to-earnings ratio of 50.63, a PEG ratio of 1.30 and a beta of 0.20. AbbVie Inc. has a 52-week low of $190.75 and a 52-week high of $298.74. The business’s 50 day moving average is $270.80 and its two-hundred day moving average is $238.28.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 30th. The company reported $3.82 EPS for the quarter, topping analysts’ consensus estimates of $3.73 by $0.09. AbbVie had a negative return on equity of 435.41% and a net margin of 15.67%. The company had revenue of $17.40 billion for the quarter, compared to analysts’ expectations of $17.32 billion. During the same period in the prior year, the firm earned $1.86 earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. Analysts anticipate that AbbVie Inc. will post 13.99 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 16th. Investors of record on Friday, January 15th will be paid a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.73. AbbVie’s dividend payout ratio is currently 125.30%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Citigroup lifted their price target on shares of AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Oppenheimer increased their price objective on AbbVie from $244.00 to $258.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Rothschild & Co Redburn raised their target price on AbbVie from $284.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Bank of America restated a “buy” rating on shares of AbbVie in a research report on Tuesday, September 8th. Finally, BNP Paribas Exane upped their target price on shares of AbbVie from $218.00 to $247.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $297.46.

Key AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie secured global rights to Nxera’s investigational oral IBD drug NXE0033744. The deal includes $100 million upfront, up to $1.37 billion in development and commercial milestones, and tiered royalties. The agreement could strengthen AbbVie’s future immunology pipeline, but milestone payments depend on development and commercial progress. Nxera licensing agreement
• Positive Sentiment: Several analysts raised their AbbVie price targets, adding to a favorable near-term outlook. Morgan Stanley price target update
• Positive Sentiment: AbbVie expanded its Oxford research facility as part of an investment exceeding £120 million, supporting longer-term research in immunology, neurology and oncology. Reuters report on Oxford R&D expansion
• Neutral Sentiment: Updated full-year revenue guidance of $67.8 billion is slightly above consensus, while projected EPS of $13.95–$13.99 is broadly in line. Fourth-quarter revenue guidance also edged above expectations, but EPS guidance of $3.83–$3.87 is below the $3.89 consensus. AbbVie outlook and valuation
• Negative Sentiment: AbbVie discontinued a Phase 2 solid-tumor drug program after seeing “limited benefit,” a setback for that part of its pipeline. Report on discontinued drug program

Insider Transactions at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the completion of the transaction, the executive vice president directly owned 74,430 shares in the company, valued at $18,607,500. This trade represents a 30.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.06% of the company’s stock.

AbbVie Company Profile

AbbVie Inc (NYSE: ABBV) is a global biopharmaceutical company that discovers, develops and commercializes medicines and other healthcare products. Its portfolio focuses on immunology, oncology, neuroscience, aesthetics and eye care, serving patients and healthcare providers in markets around the world.

The company’s key products include immunology medicines such as Skyrizi and Rinvoq; neuroscience treatments including Vraylar, Ubrelvy and Qulipta; and oncology products such as Imbruvica and Venclexta.