Kennebec Savings Bank Sells 169 Shares of AbbVie Inc. (NYSE:ABBV)

Kennebec Savings Bank decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,946 shares of the company’s stock after selling 169 shares during the quarter. AbbVie comprises 1.6% of Kennebec Savings Bank’s holdings, making the stock its 12th largest holding. Kennebec Savings Bank’s holdings in AbbVie were worth $1,581,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ABBV. Groupama Asset Managment boosted its stake in AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie in the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. purchased a new position in shares of AbbVie during the fourth quarter valued at approximately $29,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie during the fourth quarter worth $35,000. Finally, Marquette Asset Management LLC purchased a new stake in AbbVie in the 3rd quarter valued at $39,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Trading Up 0.2 %

Shares of AbbVie stock opened at $175.54 on Friday. The company’s 50-day moving average price is $176.37 and its 200-day moving average price is $184.90. The company has a market cap of $310.21 billion, a price-to-earnings ratio of 60.95, a PEG ratio of 1.77 and a beta of 0.58. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. 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 Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $2.95 EPS. On average, equities analysts expect that AbbVie Inc. will post 10.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

ABBV has been the topic of a number of analyst reports. UBS Group lifted their price objective on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. BMO Capital Markets cut their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Wolfe Research assumed coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target for the company. Five investment 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. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $205.00.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’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 sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.25% of the stock is owned by corporate insiders.

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.