Kelly Financial Services LLC Has $335,000 Holdings in AbbVie Inc. $ABBV

Kelly Financial Services LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 10.1% in the second quarter, Holdings Channel reports. The fund owned 1,807 shares of the company’s stock after acquiring an additional 166 shares during the period. Kelly Financial Services LLC’s holdings in AbbVie were worth $335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC grew its holdings in AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after buying an additional 3,401 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after acquiring an additional 3,064 shares during the period. Investors Research Corp grew its stake in shares of AbbVie by 14.2% in the first quarter. Investors Research Corp now owns 846 shares of the company’s stock worth $177,000 after acquiring an additional 105 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its position in AbbVie by 16.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 51,158 shares of the company’s stock worth $10,719,000 after acquiring an additional 7,387 shares during the period. Finally, Aletheian Wealth Advisors LLC increased its position in AbbVie by 12.5% during the first quarter. Aletheian Wealth Advisors LLC now owns 2,092 shares of the company’s stock worth $438,000 after acquiring an additional 233 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Trading Up 1.0%

ABBV stock opened at $220.75 on Monday. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $225.16. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The business’s 50 day moving average is $206.24 and its 200-day moving average is $195.04. The firm has a market cap of $389.97 billion, a P/E ratio of 105.12, a P/E/G ratio of 1.29 and a beta of 0.53.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. During the same period in the prior year, the firm earned $2.65 EPS. AbbVie’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.0%. AbbVie’s dividend payout ratio is presently 312.38%.

Insider Transactions at AbbVie

In related news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the transaction, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This trade represents a 18.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of the transaction, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of several research analyst reports. Citigroup raised their price target on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, June 11th. Evercore ISI boosted their price target on AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. BMO Capital Markets lifted their price objective on AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. Finally, Guggenheim boosted their price objective on AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.45.

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.