AbbVie Inc. (NYSE:ABBV) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 9.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,731,278 shares of the company's stock after buying an additional 145,542 shares during the quarter. Jennison Associates LLC owned about 0.10% of AbbVie worth $341,893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. International Assets Investment Management LLC raised its holdings in AbbVie by 1,745.0% in the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company's stock worth $933,698,000 after purchasing an additional 4,471,806 shares in the last quarter. Capital World Investors increased its stake in shares of AbbVie by 249.1% in the 1st quarter. Capital World Investors now owns 4,373,184 shares of the company's stock worth $796,357,000 after acquiring an additional 3,120,310 shares in the last quarter. Capital International Investors lifted its position in AbbVie by 6.9% during the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company's stock valued at $8,758,789,000 after acquiring an additional 3,110,601 shares during the period. Swedbank AB bought a new stake in AbbVie during the first quarter worth about $367,372,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in AbbVie by 13.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,744,190 shares of the company's stock worth $1,956,518,000 after purchasing an additional 1,291,201 shares during the period. 70.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ABBV has been the topic of several analyst reports. William Blair raised AbbVie to a "strong-buy" rating in a report on Friday, August 30th. Bank of America increased their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. TD Cowen lifted their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, October 7th. Wells Fargo & Company upped their price target on shares of AbbVie to $195.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Wolfe Research initiated coverage on shares of AbbVie in a report on Friday, November 15th. They issued an "outperform" rating and a $205.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $203.37.

AbbVie Stock Up 0.7 %

NYSE:ABBV traded up $1.19 during mid-day trading on Wednesday, reaching $167.76. The company's stock had a trading volume of 6,240,340 shares, compared to its average volume of 5,468,921. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The firm has a market capitalization of $296.46 billion, a PE ratio of 57.87, a price-to-earnings-growth ratio of 2.01 and a beta of 0.63. The stock has a fifty day moving average of $190.79 and a 200-day moving average of $181.10. AbbVie Inc. has a 1 year low of $137.65 and a 1 year high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company's quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $2.95 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.91%. This is an increase from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie's dividend payout ratio (DPR) is 215.28%.

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.