FMR LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 3.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,630,404 shares of the company's stock after purchasing an additional 511,470 shares during the period. FMR LLC owned about 0.77% of AbbVie worth $2,691,732,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Fairway Wealth LLC acquired a new stake in AbbVie during the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new stake in shares of AbbVie in the second quarter valued at approximately $27,000. Quest Partners LLC increased its position in AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company's stock worth $36,000 after buying an additional 207 shares in the last quarter. Marquette Asset Management LLC purchased a new position in AbbVie in the 3rd quarter valued at about $39,000. Finally, Mizuho Securities Co. Ltd. lifted its stake in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock valued at $39,000 after buying an additional 100 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
ABBV has been the subject of several analyst reports. UBS Group upped their target price on AbbVie from $195.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Leerink Partners raised shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price objective for the company in a research note on Friday. Wells Fargo & Company raised their target price on shares of AbbVie to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Piper Sandler upped their price target on shares of AbbVie from $196.00 to $209.00 and gave the stock an "overweight" rating in a research report on Friday, August 23rd. Finally, Sanford C. Bernstein began coverage on shares of AbbVie in a report on Thursday, October 17th. They issued a "market perform" rating and a $203.00 price target on the stock. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and an average price target of $203.50.
Get Our Latest Report on AbbVie
AbbVie Stock Up 2.5 %
ABBV traded up $4.35 on Tuesday, reaching $181.41. The company's stock had a trading volume of 4,920,874 shares, compared to its average volume of 5,546,671. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a 1 year low of $137.65 and a 1 year high of $207.32. The business's 50 day moving average is $189.09 and its 200 day moving average is $181.44. The stock has a market cap of $320.58 billion, a price-to-earnings ratio of 61.81, a price-to-earnings-growth ratio of 2.16 and a beta of 0.63.
AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the prior year, the firm posted $2.95 earnings per share. AbbVie's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts forecast that AbbVie Inc. will post 10.95 EPS for the current fiscal year.
AbbVie Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. This is an increase from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.62%. AbbVie's dividend payout ratio (DPR) is 227.78%.
AbbVie Profile
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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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