MML Investors Services LLC Has $108.35 Million Position in AbbVie Inc. (NYSE:ABBV)

MML Investors Services LLC raised its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 2.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 548,661 shares of the company's stock after acquiring an additional 11,580 shares during the quarter. MML Investors Services LLC's holdings in AbbVie were worth $108,350,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABBV. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie during the 3rd quarter worth approximately $28,000. Fairway Wealth LLC acquired a new position in shares of AbbVie in the second quarter valued at $26,000. Ridgewood Investments LLC bought a new position in shares of AbbVie in the second quarter valued at about $27,000. Marquette Asset Management LLC acquired a new stake in shares of AbbVie during the 3rd quarter worth about $39,000. Finally, Mizuho Securities Co. Ltd. boosted its holdings in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $39,000 after buying an additional 100 shares during the period. Institutional investors own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ABBV shares. Sanford C. Bernstein began coverage on shares of AbbVie in a report on Thursday, October 17th. They issued a "market perform" rating and a $203.00 price target on the stock. Barclays increased their target price on AbbVie from $200.00 to $212.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Daiwa Capital Markets downgraded AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price target for the company. in a research note on Thursday. UBS Group upped their price objective on AbbVie from $195.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Finally, Morgan Stanley dropped their target price on AbbVie from $231.00 to $224.00 and set an "overweight" rating for the company in a report on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus target price of $202.38.

AbbVie Price Performance

NYSE ABBV traded up $0.02 on Friday, hitting $176.19. 4,839,640 shares of the company's stock were exchanged, compared to its average volume of 7,454,487. The stock has a 50-day moving average of $186.76 and a 200-day moving average of $182.54. The stock has a market cap of $311.35 billion, a price-to-earnings ratio of 61.18, a P/E/G ratio of 2.02 and a beta of 0.58. AbbVie Inc. has a 52 week low of $145.20 and a 52 week high of $207.32. 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 (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.95 EPS. Analysts expect that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently declared 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 an increase from AbbVie's previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie's dividend payout ratio (DPR) is presently 227.78%.

About AbbVie

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.