MassMutual Private Wealth & Trust FSB lessened its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 189,039 shares of the company's stock after selling 3,036 shares during the period. AbbVie comprises approximately 0.9% of MassMutual Private Wealth & Trust FSB's investment portfolio, making the stock its 24th largest holding. MassMutual Private Wealth & Trust FSB's holdings in AbbVie were worth $33,592,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. 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 acquiring an additional 4,471,806 shares during the period. 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 period. Assenagon Asset Management S.A. lifted its stake in AbbVie by 59.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company's stock valued at $414,088,000 after buying an additional 781,858 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of AbbVie by 6.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company's stock valued at $2,009,542,000 after acquiring an additional 582,953 shares during the last quarter. Finally, Saturna Capital Corp lifted 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 in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.
AbbVie Trading Up 0.0 %
AbbVie stock traded up $0.06 during trading on Tuesday, hitting $171.62. The company had a trading volume of 3,319,685 shares, compared to its average volume of 5,359,139. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The company's 50 day simple moving average is $175.72 and its 200-day simple moving average is $184.80. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The stock has a market cap of $303.28 billion, a price-to-earnings ratio of 59.59, a price-to-earnings-growth ratio of 1.69 and a beta of 0.58.
AbbVie (NYSE:ABBV - Get Free Report) last posted 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 the consensus estimate of $14.28 billion. During the same quarter in the previous year, the business earned $2.95 EPS. The company's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, analysts expect that AbbVie Inc. will post 10.06 EPS for the current fiscal year.
AbbVie Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This is a positive change from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.82%. AbbVie's dividend payout ratio (DPR) is presently 227.78%.
Insider Activity at AbbVie
In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the company. Sanford C. Bernstein began coverage on AbbVie in a research note on Thursday, October 17th. They issued a "market perform" rating and a $203.00 price objective for the company. Daiwa America downgraded shares of AbbVie from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 5th. TD Cowen increased their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a "buy" rating in a report on Monday, October 7th. Leerink Partnrs upgraded AbbVie from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Finally, BMO Capital Markets reduced their price objective on AbbVie from $228.00 to $208.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 12th. Five research 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.com, AbbVie presently has an average rating of "Moderate Buy" and an average target price of $205.50.
Read Our Latest Stock Report on AbbVie
AbbVie Profile
(
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.
Recommended Stories
Before you consider AbbVie, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AbbVie wasn't on the list.
While AbbVie currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?
Get This Free Report