Wellington Management Group LLP Lowers Stake in AbbVie Inc. (NYSE:ABBV)

Wellington Management Group LLP lessened its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 45.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,567,155 shares of the company's stock after selling 1,315,426 shares during the period. Wellington Management Group LLP owned approximately 0.09% of AbbVie worth $309,482,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in ABBV. GGM Financials LLC boosted its position in shares of AbbVie by 0.7% in the third quarter. GGM Financials LLC now owns 6,895 shares of the company's stock worth $1,362,000 after purchasing an additional 50 shares during the period. Pine Haven Investment Counsel Inc lifted its stake in shares of AbbVie by 0.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company's stock valued at $3,575,000 after buying an additional 52 shares in the last quarter. Dillon & Associates Inc. boosted its holdings in AbbVie by 0.8% in the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company's stock worth $1,362,000 after buying an additional 52 shares during the period. Frisch Financial Group Inc. increased its stake in AbbVie by 0.8% in the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company's stock worth $1,187,000 after buying an additional 53 shares in the last quarter. Finally, First Citizens Financial Corp raised its holdings in AbbVie by 0.9% during the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company's stock valued at $1,141,000 after acquiring an additional 53 shares during the period. Institutional investors own 70.23% of the company's stock.

AbbVie Trading Up 0.0 %

ABBV traded up $0.02 during trading hours on Friday, reaching $176.19. 4,839,640 shares of the company's stock traded hands, compared to its average volume of 7,454,487. The firm has a 50-day moving average price of $186.76 and a 200 day moving average price of $182.38. The firm has a market capitalization of $311.35 billion, a PE ratio of 61.18, a PEG ratio of 2.02 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 52-week low of $145.20 and a 52-week high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business's revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.95 earnings per share. As a group, sell-side analysts predict that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.72%. This is a boost from AbbVie's previous quarterly dividend of $1.55. AbbVie's dividend payout ratio is 227.78%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ABBV shares. Argus upgraded AbbVie from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Piper Sandler boosted their target price on shares of AbbVie from $196.00 to $209.00 and gave the stock an "overweight" rating in a report on Friday, August 23rd. Sanford C. Bernstein started coverage on shares of AbbVie in a research note on Thursday, October 17th. They set a "market perform" rating and a $203.00 target price for the company. William Blair upgraded shares of AbbVie to a "strong-buy" rating in a research note on Friday, August 30th. Finally, UBS Group raised their price objective on 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, eighteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $202.38.

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.