Boston Partners increased its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 35.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,687,472 shares of the company's stock after acquiring an additional 1,503,875 shares during the period. AbbVie makes up 1.2% of Boston Partners' investment portfolio, making the stock its 7th largest position. Boston Partners owned about 0.32% of AbbVie worth $1,008,867,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. Swedbank AB raised its stake in shares of AbbVie by 0.3% during the third quarter. Swedbank AB now owns 2,147,126 shares of the company's stock valued at $424,014,000 after purchasing an additional 6,810 shares during the period. Howard Capital Management Group LLC raised its stake in shares of AbbVie by 20.3% during the third quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company's stock valued at $397,000 after purchasing an additional 339 shares during the period. Principal Financial Group Inc. raised its stake in shares of AbbVie by 12.3% during the third quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company's stock valued at $491,204,000 after purchasing an additional 273,078 shares during the period. United Bank purchased a new stake in shares of AbbVie during the third quarter valued at approximately $217,000. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of AbbVie by 0.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 21,135 shares of the company's stock valued at $4,174,000 after purchasing an additional 60 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.
AbbVie Price Performance
AbbVie stock traded down $1.98 during midday trading on Friday, hitting $209.98. The company's stock had a trading volume of 16,647,005 shares, compared to its average volume of 5,239,350. 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's 50-day moving average price is $194.49 and its 200-day moving average price is $188.73. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The company has a market capitalization of $370.68 billion, a PE ratio of 87.49, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.
AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results 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 firm earned $2.79 earnings per share. Analysts anticipate 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. Shareholders of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.12%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is presently 273.33%.
Insiders Place Their Bets
In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was 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 approximately $2,338,401.36. The trade was a 62.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the business'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 sale, the executive vice president now owns 22,381 shares in the company, 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. Over the last three months, insiders have sold 54,639 shares of company stock worth $11,067,025. 0.25% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
ABBV has been the subject of a number of research analyst reports. Guggenheim lifted their price target on shares of AbbVie from $212.00 to $214.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. UBS Group lifted their price target on shares of AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. BMO Capital Markets lifted their price target on shares of AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Piper Sandler lifted their price target on shares of AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Finally, Daiwa America lowered shares of AbbVie from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $211.45.
View Our Latest Research Report on AbbVie
About AbbVie
(
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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