AbbVie Inc. (NYSE:ABBV) Position Trimmed by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. cut its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 275,336 shares of the company's stock after selling 14,746 shares during the period. Mawer Investment Management Ltd.'s holdings in AbbVie were worth $54,373,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC grew its position in AbbVie by 1,745.0% during 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 purchasing an additional 4,471,806 shares during the last quarter. Capital World Investors lifted 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 purchasing an additional 3,120,310 shares during the period. Capital International Investors grew its position in shares of 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 purchased a new position in shares of AbbVie during the 1st quarter valued at about $367,372,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of 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.

Analyst Ratings Changes

ABBV has been the topic of several research analyst reports. Barclays boosted their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. BMO Capital Markets decreased their price target on AbbVie from $228.00 to $208.00 and set an "outperform" rating on the stock in a report on Tuesday, November 12th. Truist Financial upped their target price on AbbVie from $210.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Bank of America lifted their price objective on shares of AbbVie from $185.00 to $195.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Finally, William Blair raised shares of AbbVie to a "strong-buy" rating in a research report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and an average target price of $203.89.

AbbVie Stock Up 0.8 %

Shares of ABBV stock traded up $1.27 on Monday, hitting $166.26. The stock had a trading volume of 8,336,853 shares, compared to its average volume of 5,482,502. AbbVie Inc. has a 52-week low of $137.14 and a 52-week high of $207.32. The firm has a market capitalization of $293.80 billion, a price-to-earnings ratio of 57.40, a P/E/G ratio of 2.01 and a beta of 0.63. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock's 50 day moving average is $192.04 and its 200-day moving average is $181.04.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS 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 firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the prior year, the business posted $2.95 earnings per share. AbbVie's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts expect that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.95%. This is an increase from AbbVie's previous quarterly dividend of $1.55. AbbVie's payout ratio is presently 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.