AbbVie Inc. $ABBV Stock Purchased by Kestra Advisory Services LLC

Kestra Advisory Services LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 10.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 472,246 shares of the company’s stock after buying an additional 45,568 shares during the period. Kestra Advisory Services LLC’s holdings in AbbVie were worth $123,535,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. REAP Financial Group LLC increased its position in AbbVie by 10.6% during the third quarter. REAP Financial Group LLC now owns 2,232 shares of the company’s stock valued at $584,000 after acquiring an additional 214 shares during the last quarter. Telos Capital Management Inc. boosted its position in AbbVie by 2.1% in the third quarter. Telos Capital Management Inc. now owns 18,768 shares of the company’s stock worth $4,910,000 after purchasing an additional 388 shares during the last quarter. Quest 10 Wealth Builders Inc. grew its stake in shares of AbbVie by 6.1% during the 3rd quarter. Quest 10 Wealth Builders Inc. now owns 1,438 shares of the company’s stock valued at $376,000 after purchasing an additional 83 shares during the period. Wealth Dimensions Group Ltd. grew its stake in shares of AbbVie by 17.3% during the 3rd quarter. Wealth Dimensions Group Ltd. now owns 5,948 shares of the company’s stock valued at $1,556,000 after purchasing an additional 878 shares during the period. Finally, Schmidt P J Investment Management Inc. increased its position in shares of AbbVie by 3.7% during the 3rd quarter. Schmidt P J Investment Management Inc. now owns 35,215 shares of the company’s stock valued at $9,212,000 after purchasing an additional 1,258 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

AbbVie stock opened at $288.48 on Friday. AbbVie Inc. has a 1 year low of $190.75 and a 1 year high of $302.93. The firm’s 50 day moving average price is $271.31 and its 200-day moving average price is $238.65. The stock has a market cap of $509.91 billion, a P/E ratio of 49.65, a PEG ratio of 1.34 and a beta of 0.20.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 30th. The company reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.09. AbbVie had a negative return on equity of 450.55% and a net margin of 15.67%. The firm had revenue of $17.40 billion during the quarter, compared to analyst estimates of $17.32 billion. During the same quarter last year, the business posted $1.86 earnings per share. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, equities analysts expect that AbbVie Inc. will post 13.99 EPS for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 16th. Investors of record on Friday, January 15th will be issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.73. AbbVie’s payout ratio is currently 119.10%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ABBV shares. Royal Bank Of Canada increased their price target on shares of AbbVie from $280.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday. Cantor Fitzgerald boosted their price objective on shares of AbbVie from $290.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday. Barclays upped their price objective on AbbVie from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 21st. Canaccord Genuity Group raised their target price on AbbVie from $290.00 to $338.00 and gave the stock a “buy” rating in a report on Monday. Finally, Argus raised their target price on AbbVie from $250.00 to $270.00 in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $297.46.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Strong results and outlook: AbbVie reported $17.4 billion in third-quarter revenue and raised its full-year adjusted earnings guidance, reinforcing its growth case. The results helped lift shares recently. Article: AbbVie Stock Climbs as Q3 Earnings Fuel Growth Case
• Positive Sentiment: Pipeline expansion: AbbVie licensed global rights to Nxera Pharma’s experimental oral IBD drug NXE0033744, agreeing to pay $100 million upfront and up to $1.37 billion in development and commercial milestones, plus royalties. The deal adds a potential new treatment to its pipeline, though it remains investigational. Article: AbbVie Pens $1.4B Deal for Deprioritized IBD Drug from Nxera
• Positive Sentiment: Constructive investor sentiment: Recent coverage highlights analyst optimism and AbbVie’s defensive appeal as technology stocks retreat; the company has also recently reached a new 52-week high. These factors may support demand, but can also leave the stock vulnerable to a pullback after a strong advance. Article: Are Wall Street Analysts Bullish on AbbVie Stock?
• Neutral Sentiment: Additional R&D investment: AbbVie plans to invest £120 million to expand its Oxford research facility, supporting longer-term drug development but requiring time to translate into commercial returns. Article: AbbVie Invests £120m in UK Expansion
• Negative Sentiment: Oncology setback: AbbVie discontinued a Phase 2 solid-tumor drug program after seeing limited benefit, a reminder that clinical development carries risk and may weigh on expectations for its pipeline. Article: AbbVie Abandons Phase 2 Solid Tumor Drug Over Limited Benefit

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $250.00, for a total value of $8,177,500.00. Following the sale, the executive vice president owned 74,430 shares of the company’s stock, valued at approximately $18,607,500. This represents a 30.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

About AbbVie

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.