ING Groep NV Has $106.32 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

ING Groep NV grew its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 78.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 598,335 shares of the company's stock after acquiring an additional 263,557 shares during the period. AbbVie comprises approximately 0.7% of ING Groep NV's holdings, making the stock its 24th biggest holding. ING Groep NV's holdings in AbbVie were worth $106,324,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. State Street Corp grew its holdings in AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company's stock worth $15,614,329,000 after acquiring an additional 1,267,685 shares in the last quarter. FMR LLC grew its holdings in AbbVie by 3.9% during the 3rd quarter. FMR LLC now owns 13,630,404 shares of the company's stock worth $2,691,732,000 after acquiring an additional 511,470 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 acquiring an additional 582,953 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in AbbVie by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company's stock worth $1,842,642,000 after acquiring an additional 373,802 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of 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 period. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Trading Up 0.6 %

Shares of AbbVie stock traded up $1.15 during trading on Friday, hitting $202.03. The stock had a trading volume of 5,879,957 shares, compared to its average volume of 5,370,269. The stock has a 50 day simple moving average of $181.25 and a 200 day simple moving average of $186.41. The company has a market capitalization of $356.64 billion, a PE ratio of 84.18, a P/E/G ratio of 1.61 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32.

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

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's payout ratio is presently 273.33%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research reports. Guggenheim lifted their price target on shares of AbbVie from $212.00 to $214.00 and gave the company a "buy" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on shares of AbbVie from $210.00 to $200.00 and set an "overweight" rating for the company in a report on Wednesday, November 13th. Argus upgraded shares of AbbVie from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Wolfe Research assumed coverage on shares of AbbVie in a research report on Friday, November 15th. They issued an "outperform" rating and a $205.00 price objective on the stock. Finally, Morgan Stanley lifted their price objective on shares of AbbVie from $224.00 to $239.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $208.35.

Insider Buying and Selling at AbbVie

In other AbbVie 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 completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.25% of the company's stock.

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.