Meyer Handelman Co. Has $27.52 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Meyer Handelman Co. increased its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,861 shares of the company's stock after purchasing an additional 1,621 shares during the quarter. Meyer Handelman Co.'s holdings in AbbVie were worth $27,519,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased 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 worth $933,698,000 after acquiring an additional 4,471,806 shares during the period. State Street Corp increased its stake 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. raised its holdings in shares of AbbVie by 59.5% during the third 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 worth $2,009,542,000 after buying an additional 582,953 shares during the period. Finally, Saturna Capital Corp grew its holdings in AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock worth $133,531,000 after buying an additional 560,808 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

AbbVie Trading Up 1.4 %

NYSE ABBV traded up $2.33 on Thursday, hitting $173.68. 5,228,250 shares of the company were exchanged, compared to its average volume of 5,333,275. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company's 50 day moving average price is $176.88 and its 200-day moving average price is $184.54. The firm has a market capitalization of $306.91 billion, a P/E ratio of 60.30, a price-to-earnings-growth ratio of 1.73 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

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 the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business 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 firm earned $2.95 EPS. The firm's quarterly revenue was up 3.8% on a year-over-year basis. Analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This is an increase from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.78%. AbbVie's payout ratio is currently 215.28%.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company's 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 transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.25% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Leerink Partnrs upgraded AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. Leerink Partners upgraded shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 target price for the company in a research report on Friday, November 22nd. Wells Fargo & Company boosted their price target on shares of AbbVie to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Truist Financial decreased their price objective on shares of AbbVie from $215.00 to $211.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Finally, BMO Capital Markets dropped their target price on AbbVie from $228.00 to $208.00 and set an "outperform" rating on the stock in a report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $205.50.

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.