Price T Rowe Associates Inc. MD Has $1.81 Billion Stake in AbbVie Inc. (NYSE:ABBV)

Price T Rowe Associates Inc. MD cut its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,194,226 shares of the company's stock after selling 63,736 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.58% of AbbVie worth $1,811,516,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after buying an additional 108,993 shares during the period. Quantbot Technologies LP lifted its holdings in shares of AbbVie by 35.8% during the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock valued at $186,000 after purchasing an additional 276 shares in the last quarter. Everence Capital Management Inc. increased its stake in AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company's stock worth $9,448,000 after purchasing an additional 15,550 shares in the last quarter. GAMMA Investing LLC lifted its stake in 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 buying an additional 3,439 shares in the last quarter. Finally, Sky Investment Group LLC increased its position in shares of AbbVie by 10.1% during the fourth quarter. Sky Investment Group LLC now owns 42,715 shares of the company's stock worth $7,590,000 after acquiring an additional 3,936 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ABBV shares. Truist Financial increased their target price on AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Raymond James reaffirmed an "outperform" rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. StockNews.com downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, April 9th. Finally, Cantor Fitzgerald initiated coverage on AbbVie in a report on Tuesday. They set an "overweight" rating and a $210.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.19.

Insider Activity at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This represents a 52.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly 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 position. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock valued at $23,426,451 over the last ninety days. 0.25% of the stock is owned by corporate insiders.

AbbVie Price Performance

AbbVie stock traded up $5.59 during mid-day trading on Friday, reaching $185.96. 10,480,961 shares of the company were exchanged, compared to its average volume of 6,061,978. The firm has a market cap of $328.96 billion, a PE ratio of 77.48, a PEG ratio of 1.62 and a beta of 0.55. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The company has a fifty day simple moving average of $197.05 and a 200-day simple moving average of $187.28.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.51 by ($0.05). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.53%. AbbVie's dividend payout ratio (DPR) is currently 273.33%.

AbbVie Company 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.