Kelleher Financial Advisors Sells 5,676 Shares of AbbVie Inc. $ABBV

Kelleher Financial Advisors decreased its position in AbbVie Inc. (NYSE:ABBV) by 32.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,832 shares of the company’s stock after selling 5,676 shares during the quarter. AbbVie comprises 0.8% of Kelleher Financial Advisors’ investment portfolio, making the stock its 23rd largest holding. Kelleher Financial Advisors’ holdings in AbbVie were worth $3,095,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ABBV. Burk Holdings LLC bought a new stake in AbbVie in the second quarter worth approximately $30,000. Marquette Asset Management LLC raised its holdings in shares of AbbVie by 52.2% during the 2nd quarter. Marquette Asset Management LLC now owns 140 shares of the company’s stock valued at $35,000 after purchasing an additional 48 shares in the last quarter. IMG Wealth Management Inc. lifted its stake in shares of AbbVie by 3,060.0% in the 2nd quarter. IMG Wealth Management Inc. now owns 158 shares of the company’s stock valued at $40,000 after purchasing an additional 153 shares during the last quarter. Principia Wealth Advisory LLC lifted its stake in shares of AbbVie by 38.9% in the 2nd quarter. Principia Wealth Advisory LLC now owns 157 shares of the company’s stock valued at $40,000 after purchasing an additional 44 shares during the last quarter. Finally, Tacita Capital Inc bought a new stake in AbbVie in the second quarter worth $42,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $250.00, for a total transaction of $8,177,500.00. Following the completion of the transaction, the executive vice president owned 74,430 shares of the company’s stock, valued at approximately $18,607,500. This represents a 30.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ABBV shares. Guggenheim raised their target price on AbbVie from $288.00 to $322.00 and gave the company a “buy” rating in a report on Monday. Scotiabank increased their price objective on AbbVie from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Tuesday, October 6th. Oppenheimer raised their price objective on AbbVie from $244.00 to $258.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Bank of America restated a “buy” rating on shares of AbbVie in a report on Tuesday, September 8th. Finally, Barclays upped their target price on AbbVie from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $297.46.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie secured global rights to Nxera’s investigational oral IBD drug NXE0033744. The deal includes $100 million upfront, up to $1.37 billion in development and commercial milestones, and tiered royalties. The agreement could strengthen AbbVie’s future immunology pipeline, but milestone payments depend on development and commercial progress. Nxera licensing agreement
• Positive Sentiment: Several analysts raised their AbbVie price targets, adding to a favorable near-term outlook. Morgan Stanley price target update
• Positive Sentiment: AbbVie expanded its Oxford research facility as part of an investment exceeding £120 million, supporting longer-term research in immunology, neurology and oncology. Reuters report on Oxford R&D expansion
• Neutral Sentiment: Updated full-year revenue guidance of $67.8 billion is slightly above consensus, while projected EPS of $13.95–$13.99 is broadly in line. Fourth-quarter revenue guidance also edged above expectations, but EPS guidance of $3.83–$3.87 is below the $3.89 consensus. AbbVie outlook and valuation
• Negative Sentiment: AbbVie discontinued a Phase 2 solid-tumor drug program after seeing “limited benefit,” a setback for that part of its pipeline. Report on discontinued drug program

AbbVie Stock Up 2.9%

Shares of NYSE ABBV opened at $294.15 on Thursday. The business’s 50 day moving average is $270.80 and its two-hundred day moving average is $238.28. The company has a market cap of $519.71 billion, a P/E ratio of 50.63, a P/E/G ratio of 1.30 and a beta of 0.20. AbbVie Inc. has a 12 month low of $190.75 and a 12 month high of $298.74.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, October 30th. The company reported $3.82 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.09. The company had revenue of $17.40 billion during the quarter, compared to analysts’ expectations of $17.32 billion. AbbVie had a negative return on equity of 435.41% and a net margin of 15.67%. AbbVie’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.86 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 13.99 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 16th. Shareholders of record on Friday, January 15th will be given a $1.82 dividend. The ex-dividend date is Friday, January 15th. This represents a $7.28 annualized dividend and a yield of 2.5%. This is a positive change from AbbVie’s previous quarterly dividend of $1.73. AbbVie’s dividend payout ratio (DPR) is 125.30%.

About AbbVie

AbbVie Inc (NYSE: ABBV) is a global biopharmaceutical company that discovers, develops and commercializes medicines and other healthcare products. Its portfolio focuses on immunology, oncology, neuroscience, aesthetics and eye care, serving patients and healthcare providers in markets around the world.

The company’s key products include immunology medicines such as Skyrizi and Rinvoq; neuroscience treatments including Vraylar, Ubrelvy and Qulipta; and oncology products such as Imbruvica and Venclexta.