KBC Group NV raised its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 5.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,146,550 shares of the company's stock after purchasing an additional 54,501 shares during the period. AbbVie accounts for about 0.6% of KBC Group NV's investment portfolio, making the stock its 26th biggest holding. KBC Group NV owned approximately 0.06% of AbbVie worth $203,742,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in ABBV. Union Bancaire Privee UBP SA bought a new stake in AbbVie during the 4th quarter valued at approximately $127,000. Apexium Financial LP increased its holdings in shares of AbbVie by 22.5% in the fourth quarter. Apexium Financial LP now owns 3,968 shares of the company's stock worth $705,000 after purchasing an additional 728 shares during the last quarter. Capital Asset Advisory Services LLC lifted its position in shares of AbbVie by 2.6% in the fourth quarter. Capital Asset Advisory Services LLC now owns 18,448 shares of the company's stock worth $3,343,000 after buying an additional 473 shares in the last quarter. Blue Trust Inc. boosted its stake in AbbVie by 20.6% during the fourth quarter. Blue Trust Inc. now owns 47,271 shares of the company's stock valued at $8,400,000 after buying an additional 8,059 shares during the last quarter. Finally, Cathy Pareto & Associates Inc. purchased a new position in AbbVie during the 4th quarter valued at approximately $320,000. Institutional investors own 70.23% of the company's stock.
AbbVie Stock Performance
NYSE ABBV traded up $6.60 on Monday, hitting $176.90. 6,984,200 shares of the company's stock traded hands, compared to its average volume of 6,118,210. The firm's 50-day moving average price is $175.84 and its two-hundred day moving average price is $184.89. The firm has a market capitalization of $312.60 billion, a PE ratio of 61.42, a P/E/G ratio of 1.68 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. 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 released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating 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 business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same quarter last year, the business posted $2.95 EPS. The company's revenue was up 3.8% on a year-over-year basis. As a group, analysts expect that AbbVie Inc. will post 10.06 EPS for the current year.
AbbVie Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders 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 is a boost from AbbVie's previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.71%. AbbVie's dividend payout ratio is currently 227.78%.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the company. Leerink Partners upgraded AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price objective on the stock in a research report on Friday, November 22nd. Wells Fargo & Company boosted their price objective on shares of AbbVie to $195.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. Piper Sandler Companies restated an "overweight" rating and issued a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Leerink Partnrs upgraded shares of AbbVie from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Finally, Guggenheim raised their price objective on shares of AbbVie from $212.00 to $221.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $205.50.
Read Our Latest Report on AbbVie
Insider Activity
In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm's stock in a transaction dated 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 approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.25% of the company's stock.
AbbVie Company 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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