Key Financial Inc Has $2.62 Million Stake in AbbVie Inc. (NYSE:ABBV)

Key Financial Inc boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,269 shares of the company’s stock after buying an additional 154 shares during the quarter. Key Financial Inc’s holdings in AbbVie were worth $2,619,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capital Advisors Ltd. LLC boosted its stake in AbbVie by 1.3% during the second quarter. Capital Advisors Ltd. LLC now owns 4,453 shares of the company’s stock valued at $764,000 after buying an additional 55 shares during the period. Lokken Investment Group LLC raised its holdings in shares of AbbVie by 3.6% in the 4th quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock valued at $258,000 after acquiring an additional 58 shares in the last quarter. Arcadia Investment Management Corp MI boosted its position in shares of AbbVie by 0.6% during the 1st quarter. Arcadia Investment Management Corp MI now owns 9,371 shares of the company’s stock valued at $1,706,000 after acquiring an additional 59 shares during the last quarter. RAM Investment Partners LLC grew its holdings in shares of AbbVie by 1.1% during the second quarter. RAM Investment Partners LLC now owns 5,219 shares of the company’s stock worth $895,000 after purchasing an additional 59 shares in the last quarter. Finally, L. Roy Papp & Associates LLP increased its position in shares of AbbVie by 0.8% in the second quarter. L. Roy Papp & Associates LLP now owns 7,892 shares of the company’s stock worth $1,354,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.5 %

Shares of AbbVie stock traded up $1.07 on Friday, hitting $196.25. The stock had a trading volume of 3,820,745 shares, compared to its average volume of 5,441,654. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a one year low of $135.85 and a one year high of $198.30. The stock’s 50-day simple moving average is $181.44 and its two-hundred day simple moving average is $173.93. The stock has a market cap of $346.55 billion, a price-to-earnings ratio of 58.23, a PEG ratio of 2.49 and a beta of 0.64.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 186.82%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same quarter last year, the firm earned $2.91 EPS. The company’s revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts predict that AbbVie Inc. will post 10.87 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were issued a dividend of $1.55 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.16%. AbbVie’s dividend payout ratio is presently 183.98%.

Insider Buying and Selling at AbbVie

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

Wall Street Analyst Weigh In

ABBV has been the subject of several research analyst reports. Morgan Stanley lifted their target price on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Wells Fargo & Company upped their target price on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Truist Financial reissued a “buy” rating and issued a $210.00 target price (up previously from $195.00) on shares of AbbVie in a research note on Friday, July 26th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Wednesday, June 5th. Finally, Piper Sandler Companies reissued an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a report on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $191.64.

About AbbVie

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.