AbbVie Inc. (NYSE:ABBV) Holdings Raised by Capital World Investors

Capital World Investors raised its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 6.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,410,277 shares of the company's stock after purchasing an additional 959,242 shares during the quarter. Capital World Investors owned about 0.93% of AbbVie worth $2,915,990,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in shares of AbbVie by 1.2% in the fourth 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 last quarter. Quantbot Technologies LP raised its stake in shares of AbbVie by 35.8% in 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. grew its stake in AbbVie by 41.3% in the fourth 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 increased its holdings 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 during the last quarter. Finally, Sky Investment Group LLC lifted its holdings in AbbVie by 10.1% during the 4th quarter. Sky Investment Group LLC now owns 42,715 shares of the company's stock worth $7,590,000 after buying an additional 3,936 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of ABBV traded up $2.17 during midday trading on Wednesday, reaching $175.95. The stock had a trading volume of 3,518,523 shares, compared to its average volume of 6,003,972. 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 firm's 50 day moving average price is $197.62 and its 200-day moving average price is $187.44. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The company has a market capitalization of $311.25 billion, a P/E ratio of 73.31, a P/E/G ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (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 last year, the firm posted $2.79 earnings per share. On average, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio is presently 273.33%.

Insider Buying and Selling

In other news, EVP Timothy J. Richmond sold 29,917 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of AbbVie 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock worth $23,426,451 in the last three months. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research analyst reports. Cantor Fitzgerald began coverage on AbbVie in a report on Tuesday. They issued an "overweight" rating and a $210.00 price target for the company. Wells Fargo & Company increased their target price on shares of AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Citigroup lifted their price target on shares of AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Raymond James reiterated an "outperform" rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Finally, Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Seven 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 MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $211.19.

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.