Key Client Fiduciary Advisors LLC Lowers Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Key Client Fiduciary Advisors LLC reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 5.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,732 shares of the company’s stock after selling 756 shares during the quarter. AbbVie makes up 1.2% of Key Client Fiduciary Advisors LLC’s portfolio, making the stock its 16th biggest holding. Key Client Fiduciary Advisors LLC’s holdings in AbbVie were worth $2,355,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ABBV. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of AbbVie during the 4th quarter worth about $26,000. Able Wealth Management LLC acquired a new position in AbbVie during the 4th quarter worth approximately $33,000. IFS Advisors LLC purchased a new position in AbbVie in the 1st quarter worth approximately $36,000. Ables Iannone Moore & Associates Inc. purchased a new position in AbbVie in the 4th quarter worth approximately $37,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in AbbVie during the 1st quarter valued at $37,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the sale, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

NYSE:ABBV traded up $1.71 during mid-day trading on Wednesday, hitting $192.94. The stock had a trading volume of 4,153,375 shares, compared to its average volume of 5,552,938. The company has a 50 day simple moving average of $175.07 and a 200-day simple moving average of $171.79. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $193.91. The stock has a market capitalization of $340.71 billion, a price-to-earnings ratio of 57.25, a P/E/G ratio of 2.49 and a beta of 0.64. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 186.82%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.91 earnings per share. On average, research analysts expect that AbbVie Inc. will post 10.87 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Monday, July 15th. AbbVie’s payout ratio is 183.98%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Piper Sandler restated an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a report on Tuesday, July 2nd. Truist Financial reiterated a “buy” rating and issued a $210.00 price target (up from $195.00) on shares of AbbVie in a report on Friday, July 26th. BMO Capital Markets raised their price objective on AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. Finally, HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research report on Wednesday, June 5th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $190.29.

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.