Capital International Investors Has $5.07 Billion Position in AbbVie Inc. (NYSE:ABBV)

Capital International Investors lessened its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 22.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,533,488 shares of the company's stock after selling 8,254,356 shares during the period. AbbVie comprises about 1.0% of Capital International Investors' holdings, making the stock its 24th biggest position. Capital International Investors owned about 1.61% of AbbVie worth $5,069,729,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of AbbVie by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock valued at $30,754,908,000 after acquiring an additional 1,424,237 shares during the period. Geode Capital Management LLC lifted its stake in AbbVie by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock worth $6,586,948,000 after purchasing an additional 983,888 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of AbbVie by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after purchasing an additional 3,599,336 shares during the last quarter. Norges Bank purchased a new stake in AbbVie in the fourth quarter worth approximately $4,459,385,000. Finally, FMR LLC grew its position in AbbVie by 32.8% during the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock valued at $3,215,903,000 after acquiring an additional 4,466,971 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

AbbVie stock traded up $3.67 during trading hours on Tuesday, hitting $173.83. The stock had a trading volume of 1,441,719 shares, compared to its average volume of 5,994,411. 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 stock has a market capitalization of $307.51 billion, a price-to-earnings ratio of 72.51, a PEG ratio of 1.62 and a beta of 0.55. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The stock's fifty day moving average is $198.01 and its two-hundred day moving average is $187.54.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 period in the previous year, the firm posted $2.79 EPS. As a group, analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company 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. This represents a $6.56 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is 273.33%.

Wall Street Analyst Weigh In

Several analysts have issued reports on ABBV shares. Citigroup upped their price target on shares of AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Guggenheim reaffirmed a "buy" rating and set a $214.00 target price on shares of AbbVie in a research note on Thursday, April 17th. BMO Capital Markets boosted their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Cantor Fitzgerald began coverage on shares of AbbVie in a report on Tuesday. They issued an "overweight" rating and a $210.00 target price for the company. Finally, Raymond James reiterated an "outperform" rating and issued a $220.00 price objective (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $211.19.

Insider Buying and Selling at AbbVie

In other news, EVP Perry C. Siatis sold 5,778 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction dated 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 sale, the executive vice president now owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. This trade represents a 52.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,471 shares of company stock worth $23,426,451. 0.25% of the stock is owned by company insiders.

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.