Oddo BHF Asset Management Sas Takes Position in AbbVie Inc. (NYSE:ABBV)

Oddo BHF Asset Management Sas purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 24,146 shares of the company's stock, valued at approximately $4,768,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in shares of AbbVie by 1,745.0% in the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company's stock valued at $933,698,000 after purchasing an additional 4,471,806 shares in the last quarter. State Street Corp lifted its stake in AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company's stock worth $15,614,329,000 after acquiring an additional 1,267,685 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of AbbVie by 59.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company's stock worth $414,088,000 after purchasing an additional 781,858 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of AbbVie by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 8,841,189 shares of the company's stock worth $1,516,358,000 after purchasing an additional 623,569 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in AbbVie by 6.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company's stock valued at $2,009,542,000 after buying an additional 582,953 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Up 0.1 %

ABBV stock traded up $0.18 on Friday, hitting $173.37. 4,644,255 shares of the company were exchanged, compared to its average volume of 5,532,226. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The stock has a market capitalization of $306.37 billion, a price-to-earnings ratio of 60.17, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. AbbVie Inc. has a twelve month low of $151.29 and a twelve month high of $207.32. The business's fifty day moving average is $185.03 and its two-hundred day moving average is $182.68.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts' consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the prior year, the firm posted $2.95 EPS. The business's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts forecast that AbbVie Inc. will post 10.96 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This is a positive change from AbbVie's previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.78%. AbbVie's dividend payout ratio (DPR) is 215.28%.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of recent analyst reports. Sanford C. Bernstein assumed coverage on AbbVie in a report on Thursday, October 17th. They set a "market perform" rating and a $203.00 price target for the company. Daiwa America cut AbbVie from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 5th. Morgan Stanley cut their price objective on shares of AbbVie from $231.00 to $224.00 and set an "overweight" rating on the stock in a report on Tuesday, November 12th. Truist Financial boosted their price objective on shares of AbbVie from $210.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Finally, UBS Group increased their target price 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. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $203.65.

AbbVie 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.