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

Kelleher Financial Advisors lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 32.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,832 shares of the company’s stock after selling 5,676 shares during the quarter. AbbVie comprises approximately 0.8% of Kelleher Financial Advisors’ portfolio, making the stock its 23rd largest holding. Kelleher Financial Advisors’ holdings in AbbVie were worth $3,095,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Ranch Capital Advisors Inc. lifted its position in AbbVie by 37.0% during the 1st quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company’s stock worth $3,238,000 after buying an additional 4,017 shares in the last quarter. Capital Advisors Inc. OK raised its position in shares of AbbVie by 11.2% during the 2nd quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company’s stock valued at $112,516,000 after acquiring an additional 45,132 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab bought a new stake in AbbVie in the second quarter valued at about $23,557,000. Wedge Capital Management L L P NC raised its position in shares of AbbVie by 7.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 134,579 shares of the company’s stock valued at $33,865,000 after acquiring an additional 9,380 shares during the period. Finally, State Street Corp raised its holdings in AbbVie by 1.7% in the second quarter. State Street Corp now owns 82,596,748 shares of the company’s stock worth $20,784,646,000 after purchasing an additional 1,379,232 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Key AbbVie News

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

Insider Buying and Selling at AbbVie

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the business’s stock in a transaction on 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 transaction, the executive vice president directly owned 74,430 shares in the company, valued at approximately $18,607,500. The trade was 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 this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on ABBV shares. Scotiabank raised their target price on shares of AbbVie from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Tuesday, October 6th. The Goldman Sachs Group boosted their price target on AbbVie from $258.00 to $294.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. Citigroup upped their price objective on AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Guggenheim increased their price objective on AbbVie from $288.00 to $322.00 and gave the stock a “buy” rating in a report on Monday. Finally, Oppenheimer lifted their target price on AbbVie from $244.00 to $258.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $297.46.

AbbVie Price Performance

Shares of NYSE ABBV opened at $294.15 on Thursday. The stock has a market capitalization of $519.71 billion, a price-to-earnings ratio of 50.63, a PEG ratio of 1.30 and a beta of 0.20. The business has a 50-day moving average of $270.80 and a 200-day moving average of $238.28. AbbVie Inc. has a fifty-two week low of $190.75 and a fifty-two week high of $298.74.

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

AbbVie Increases Dividend

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

AbbVie Profile

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.