AbbVie Inc. (NYSE:ABBV) Shares Bought by Keybank National Association OH

by · The Cerbat Gem

Keybank National Association OH raised its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 27.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,060,933 shares of the company’s stock after purchasing an additional 226,926 shares during the quarter. AbbVie accounts for 0.9% of Keybank National Association OH’s investment portfolio, making the stock its 21st biggest holding. Keybank National Association OH’s holdings in AbbVie were worth $222,287,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of ABBV. Crestline Management LP increased its position in AbbVie by 438.4% during the 4th quarter. Crestline Management LP now owns 35,311 shares of the company’s stock worth $6,275,000 after purchasing an additional 28,753 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of AbbVie by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock valued at $1,664,489,000 after purchasing an additional 108,993 shares in the last quarter. Quantbot Technologies LP lifted its stake in AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock valued at $186,000 after buying an additional 276 shares in the last quarter. AXA S.A. raised its stake in AbbVie by 14.8% in the 4th quarter. AXA S.A. now owns 971,893 shares of the company’s stock valued at $172,705,000 after purchasing an additional 125,568 shares during the last quarter. Finally, Highland Capital Management LLC lifted its holdings in AbbVie by 6.3% in the 1st quarter. Highland Capital Management LLC now owns 46,853 shares of the company’s stock valued at $9,817,000 after purchasing an additional 2,792 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Up 2.3%

ABBV stock opened at $189.92 on Wednesday. The firm’s 50-day moving average is $186.85 and its two-hundred day moving average is $188.22. The company has a market capitalization of $335.47 billion, a price-to-earnings ratio of 80.82, a price-to-earnings-growth ratio of 1.23 and a beta of 0.48. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. AbbVie’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.31 earnings per share. On average, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Tuesday, July 15th. AbbVie’s dividend payout ratio is presently 279.15%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent research reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Morgan Stanley lifted their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Wells Fargo & Company upped their target price on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Finally, Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

Read Our Latest Research Report on ABBV

About AbbVie

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV – Free Report).