Dai ichi Life Insurance Company Ltd Has $27.82 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Dai ichi Life Insurance Company Ltd lowered its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 7.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 140,886 shares of the company's stock after selling 11,851 shares during the period. Dai ichi Life Insurance Company Ltd's holdings in AbbVie were worth $27,822,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ABBV. Fairway Wealth LLC acquired a new position in AbbVie during the second quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new position in AbbVie during the second quarter valued at approximately $27,000. Quest Partners LLC grew its stake in shares of AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company's stock worth $36,000 after acquiring an additional 207 shares during the last quarter. Marquette Asset Management LLC acquired a new stake in shares of AbbVie in the third quarter worth $39,000. Finally, Mizuho Securities Co. Ltd. grew its stake in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ABBV. Wolfe Research began coverage on shares of AbbVie in a research note on Friday, November 15th. They issued an "outperform" rating and a $205.00 price objective on the stock. Truist Financial raised their price objective on shares of AbbVie from $210.00 to $215.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Argus raised AbbVie from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Barclays raised their target price on AbbVie from $200.00 to $212.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Finally, Piper Sandler raised their target price on AbbVie from $196.00 to $209.00 and gave the stock an "overweight" rating in a research report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and an average target price of $203.50.

AbbVie Trading Up 1.9 %

ABBV traded up $3.44 during midday trading on Tuesday, reaching $180.50. 4,146,180 shares of the company were exchanged, compared to its average volume of 5,543,991. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a one year low of $137.65 and a one year high of $207.32. The stock has a market capitalization of $318.97 billion, a P/E ratio of 61.81, a PEG ratio of 2.16 and a beta of 0.63. The stock's 50-day simple moving average is $189.09 and its 200 day simple moving average is $181.44.

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, topping analysts' consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion for the quarter, compared to analysts' expectations of $14.28 billion. During the same quarter last year, the business earned $2.95 earnings per share. The company's revenue was up 3.8% compared to the same quarter last year. As a group, analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.63%. This is a positive change from AbbVie's previous quarterly dividend of $1.55. AbbVie's dividend payout ratio (DPR) is currently 227.78%.

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.