Keybank National Association OH Sells 6,446 Shares of AbbVie Inc. (NYSE:ABBV)

Keybank National Association OH trimmed its position in AbbVie Inc. (NYSE:ABBV) by 0.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 834,007 shares of the company’s stock after selling 6,446 shares during the period. Keybank National Association OH’s holdings in AbbVie were worth $148,203,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Jag Capital Management LLC grew its position in AbbVie by 145.6% in the 4th quarter. Jag Capital Management LLC now owns 2,942 shares of the company’s stock worth $523,000 after purchasing an additional 1,744 shares in the last quarter. Mainstream Capital Management LLC bought a new position in shares of AbbVie during the 4th quarter valued at approximately $56,000. Alley Investment Management Company LLC grew its position in shares of AbbVie by 2.6% during the 4th quarter. Alley Investment Management Company LLC now owns 117,798 shares of the company’s stock valued at $20,933,000 after acquiring an additional 2,951 shares during the period. Ring Mountain Capital LLC bought a new position in shares of AbbVie during the 4th quarter valued at approximately $321,000. Finally, Torray Investment Partners LLC grew its position in shares of AbbVie by 42.2% during the 4th quarter. Torray Investment Partners LLC now owns 30,671 shares of the company’s stock valued at $5,450,000 after acquiring an additional 9,107 shares during the period. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Truist Financial increased their target price 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. Guggenheim increased their target price on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Citigroup increased their target price on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company raised their price objective on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Stock Performance

NYSE ABBV opened at $211.27 on Tuesday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $212.30. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The stock has a market capitalization of $372.97 billion, a PE ratio of 88.03, a P/E/G ratio of 1.62 and a beta of 0.58. The company’s 50 day simple moving average is $185.08 and its two-hundred day simple moving average is $187.04.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the previous year, the firm posted $2.79 EPS. Analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is presently 273.33%.

Insiders Place Their Bets

In related news, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kevin K. Buckbee sold 1,800 shares of the business’s 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 sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,439 shares of company stock valued at $11,377,057 in the last quarter. Insiders own 0.25% of the company’s stock.

AbbVie 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.