GAM Holding AG Buys Shares of 8,633 AbbVie Inc. (NYSE:ABBV)

GAM Holding AG acquired a new position in AbbVie Inc. (NYSE:ABBV - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 8,633 shares of the company's stock, valued at approximately $1,534,000.

Several other institutional investors have also modified their holdings of ABBV. International Assets Investment Management LLC grew its stake in AbbVie by 1,745.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company's stock valued at $933,698,000 after buying an additional 4,471,806 shares during the last quarter. State Street Corp grew its position in shares of AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company's stock valued at $15,614,329,000 after purchasing an additional 1,267,685 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of AbbVie by 59.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company's stock worth $414,088,000 after purchasing an additional 781,858 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of AbbVie by 6.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company's stock worth $2,009,542,000 after purchasing an additional 582,953 shares during the last quarter. Finally, Saturna Capital Corp boosted its position in shares of AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock valued at $133,531,000 after acquiring an additional 560,808 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ABBV. JPMorgan Chase & Co. cut their price objective on shares of AbbVie from $210.00 to $200.00 and set an "overweight" rating for the company in a research report on Wednesday, November 13th. Bank of America reiterated a "neutral" rating and issued a $191.00 price objective on shares of AbbVie in a research report on Tuesday, December 10th. Wolfe Research initiated coverage on AbbVie in a research report on Friday, November 15th. They set an "outperform" rating and a $205.00 price objective on the stock. Guggenheim upped their price objective on AbbVie from $212.00 to $214.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Finally, Daiwa America cut AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and a consensus target price of $208.35.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company's stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.25% of the company's stock.

AbbVie Stock Performance

AbbVie stock traded up $1.15 during mid-day trading on Friday, hitting $202.03. 5,879,957 shares of the company's stock traded hands, compared to its average volume of 5,370,269. The stock has a market cap of $356.64 billion, a price-to-earnings ratio of 84.18, a P/E/G ratio of 1.61 and a beta of 0.58. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.54. The firm has a 50 day simple moving average of $181.25 and a two-hundred day simple moving average of $186.41. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data 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 net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the prior year, the company posted $2.79 earnings per share. On average, research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's dividend payout ratio is currently 273.33%.

AbbVie 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.