Krane Funds Advisors LLC Has $431,000 Holdings in AbbVie Inc. (NYSE:ABBV)

Krane Funds Advisors LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,182 shares of the company’s stock after purchasing an additional 65 shares during the quarter. Krane Funds Advisors LLC’s holdings in AbbVie were worth $431,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Foundations Investment Advisors LLC boosted its stake in shares of AbbVie by 79.0% during the 3rd quarter. Foundations Investment Advisors LLC now owns 64,877 shares of the company’s stock worth $12,812,000 after buying an additional 28,641 shares during the last quarter. Ledyard National Bank grew its stake in AbbVie by 4.0% in the third quarter. Ledyard National Bank now owns 20,626 shares of the company’s stock valued at $4,073,000 after purchasing an additional 787 shares in the last quarter. Winch Advisory Services LLC increased its position in shares of AbbVie by 15.2% during the 3rd quarter. Winch Advisory Services LLC now owns 797 shares of the company’s stock worth $157,000 after purchasing an additional 105 shares during the last quarter. Horst & Graben Wealth Management LLC acquired a new stake in shares of AbbVie in the 3rd quarter valued at approximately $226,000. Finally, Evernest Financial Advisors LLC acquired a new position in AbbVie during the third quarter worth $267,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Down 1.2 %

Shares of ABBV stock opened at $186.54 on Tuesday. The company has a market cap of $329.41 billion, a P/E ratio of 55.38, a PEG ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The stock has a 50 day simple moving average of $194.37 and a two-hundred day simple moving average of $177.88.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same quarter in the previous year, the firm posted $2.91 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. Research analysts forecast that AbbVie Inc. will post 10.85 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

Wall Street Analyst Weigh In

ABBV has been the topic of several research analyst reports. Bank of America upped their price objective on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday. UBS Group raised their price target on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Piper Sandler Companies restated an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research note on Wednesday, July 3rd. BMO Capital Markets increased their price target on shares of AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Truist Financial boosted their price objective on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $198.47.

Insider Activity at AbbVie

In other AbbVie 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 sale, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by corporate insiders.

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.