Keystone Financial Group Purchases 161 Shares of AbbVie Inc. (NYSE:ABBV)

Keystone Financial Group raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,952 shares of the company’s stock after acquiring an additional 161 shares during the period. Keystone Financial Group’s holdings in AbbVie were worth $3,190,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ABBV. Savvy Advisors Inc. raised its holdings in shares of AbbVie by 84.9% in the fourth quarter. Savvy Advisors Inc. now owns 17,728 shares of the company’s stock valued at $3,150,000 after buying an additional 8,140 shares during the last quarter. Altman Advisors Inc. grew its holdings in AbbVie by 1.9% during the 4th quarter. Altman Advisors Inc. now owns 15,175 shares of the company’s stock worth $2,697,000 after acquiring an additional 283 shares during the last quarter. Advisors Capital Management LLC increased its position in AbbVie by 2.2% in the 4th quarter. Advisors Capital Management LLC now owns 567,558 shares of the company’s stock valued at $100,855,000 after acquiring an additional 12,381 shares in the last quarter. Sagespring Wealth Partners LLC bought a new position in shares of AbbVie in the fourth quarter worth about $3,486,000. Finally, Townsquare Capital LLC lifted its position in shares of AbbVie by 12.4% during the fourth quarter. Townsquare Capital LLC now owns 158,060 shares of the company’s stock worth $28,087,000 after purchasing an additional 17,377 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

NYSE:ABBV opened at $174.90 on Friday. The stock has a market capitalization of $309.39 billion, a PE ratio of 72.87, a P/E/G ratio of 1.62 and a beta of 0.55. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The firm has a fifty day simple moving average of $200.16 and a 200 day simple moving average of $188.49. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last released 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 return on equity of 296.28% and a net margin of 7.59%. During the same quarter last year, the business earned $2.79 EPS. On average, research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.75%. AbbVie’s dividend payout ratio is 273.33%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ABBV. Piper Sandler raised their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Morgan Stanley lifted their target price on AbbVie from $239.00 to $241.00 and gave the company an “overweight” rating in a research note on Wednesday. Wells Fargo & Company upped their price target on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. StockNews.com lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Truist Financial upped 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. Six research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $210.71.

Insider Activity

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the firm’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 $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,471 shares of company stock valued at $23,426,451 over the last three months. Insiders own 0.25% of the company’s stock.

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.