Kentucky Trust Co Takes Position in AbbVie Inc. (NYSE:ABBV)

Kentucky Trust Co purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 7,089 shares of the company’s stock, valued at approximately $1,260,000.

Several other institutional investors have also recently made changes to their positions in the company. Capital Advisors Inc. OK grew its stake in AbbVie by 1.6% in the fourth quarter. Capital Advisors Inc. OK now owns 335,011 shares of the company’s stock valued at $59,531,000 after purchasing an additional 5,119 shares during the last quarter. Certuity LLC grew its stake in AbbVie by 82.8% in the fourth quarter. Certuity LLC now owns 11,964 shares of the company’s stock valued at $2,126,000 after purchasing an additional 5,418 shares during the last quarter. Community Financial Services Group LLC grew its stake in AbbVie by 9.5% in the fourth quarter. Community Financial Services Group LLC now owns 2,687 shares of the company’s stock valued at $477,000 after purchasing an additional 233 shares during the last quarter. Montz Harcus Wealth Management LLC grew its stake in AbbVie by 12.5% in the fourth quarter. Montz Harcus Wealth Management LLC now owns 2,204 shares of the company’s stock valued at $392,000 after purchasing an additional 245 shares during the last quarter. Finally, Leavell Investment Management Inc. grew its stake in AbbVie by 0.8% in the fourth quarter. Leavell Investment Management Inc. now owns 79,674 shares of the company’s stock valued at $14,158,000 after purchasing an additional 629 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.8 %

Shares of NYSE:ABBV opened at $191.81 on Wednesday. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The company has a market capitalization of $338.96 billion, a PE ratio of 79.92, a PEG ratio of 1.53 and a beta of 0.58. The business has a 50 day moving average of $177.71 and a two-hundred day moving average of $185.81. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period last year, the company earned $2.79 earnings per share. As a group, analysts forecast that AbbVie Inc. will post 12.32 EPS for the current year.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of several analyst reports. Sanford C. Bernstein initiated coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price on the stock. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Finally, Truist Financial raised their price target on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

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.