Mawer Investment Management Ltd. cut its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 262,150 shares of the company's stock after selling 13,186 shares during the period. Mawer Investment Management Ltd.'s holdings in AbbVie were worth $46,584,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $4,459,385,000. Raymond James Financial Inc. bought a new position in AbbVie in the fourth quarter worth approximately $1,190,951,000. Charles Schwab Investment Management Inc. grew its stake in AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after acquiring an additional 3,599,336 shares during the period. Boston Partners increased its holdings in shares of AbbVie by 35.9% during the fourth quarter. Boston Partners now owns 5,687,472 shares of the company's stock valued at $1,008,867,000 after acquiring an additional 1,503,875 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in AbbVie by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock valued at $30,754,908,000 after purchasing an additional 1,424,237 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.
AbbVie Trading Up 2.2 %
Shares of NYSE:ABBV traded up $4.54 during midday trading on Monday, hitting $209.83. 11,093,562 shares of the stock traded hands, compared to its average volume of 5,725,897. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock has a market capitalization of $371.19 billion, a PE ratio of 87.43, a P/E/G ratio of 1.62 and a beta of 0.61. The business's 50 day moving average is $197.50 and its two-hundred day moving average is $188.91. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66.
AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the prior year, the business posted $2.79 EPS. As a group, research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.
AbbVie Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.13%. AbbVie's dividend payout ratio is currently 273.33%.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Piper Sandler lifted their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Raymond James reaffirmed an "outperform" rating and issued a $220.00 target price (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. UBS Group lifted their price target on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Finally, Piper Sandler Companies reaffirmed an "overweight" rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $211.45.
Check Out Our Latest Research Report on ABBV
Insider Transactions at AbbVie
In other news, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the sale, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. This represents a 62.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares of the company's stock, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,639 shares of company stock valued at $11,067,025 in the last quarter. 0.25% of the stock is owned by insiders.
AbbVie Profile
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Free Report)
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.
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