Kennebec Savings Bank Decreases Holdings in AbbVie Inc. (NYSE:ABBV)

Kennebec Savings Bank lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,946 shares of the company’s stock after selling 169 shares during the period. AbbVie comprises about 1.6% of Kennebec Savings Bank’s investment portfolio, making the stock its 12th biggest position. Kennebec Savings Bank’s holdings in AbbVie were worth $1,581,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ABBV. Atlanta Consulting Group Advisors LLC bought a new position in shares of AbbVie in the third quarter worth approximately $999,000. Saturna Capital Corp boosted its position in AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after buying an additional 560,808 shares during the period. Everence Capital Management Inc. grew its holdings in AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after acquiring an additional 15,550 shares during the last quarter. GAMMA Investing LLC increased its position in shares of AbbVie by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after acquiring an additional 3,439 shares during the period. Finally, Avior Wealth Management LLC raised its stake in shares of AbbVie by 23.5% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after acquiring an additional 10,768 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Trading Up 0.2 %

AbbVie stock opened at $175.54 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a market cap of $310.21 billion, a P/E ratio of 60.95, a P/E/G ratio of 1.77 and a beta of 0.58. The business has a 50-day simple moving average of $176.37 and a two-hundred day simple moving average of $184.90. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $2.95 EPS. Analysts predict that AbbVie Inc. will post 10.09 EPS for the current year.

Analysts Set New Price Targets

ABBV has been the topic of a number of research analyst reports. BMO Capital Markets reduced their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Morgan Stanley reduced their target price on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. JPMorgan Chase & Co. dropped their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. UBS Group boosted their price objective on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research report on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $205.00.

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.