Naviter Wealth LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 43.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,056 shares of the company's stock after buying an additional 5,736 shares during the quarter. Naviter Wealth LLC's holdings in AbbVie were worth $3,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in AbbVie by 1.6% during the 3rd 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 last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after buying an additional 3,599,336 shares during the period. FMR LLC lifted its holdings in shares of AbbVie by 3.9% in the 3rd quarter. FMR LLC now owns 13,630,404 shares of the company's stock valued at $2,691,732,000 after buying an additional 511,470 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of AbbVie by 6.1% in the 3rd 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 buying an additional 582,953 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of AbbVie by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company's stock valued at $1,842,642,000 after buying an additional 373,802 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the sale, the senior vice president now directly owns 11,496 shares in the company, valued at approximately $2,338,401.36. This trade represents a 62.23 % 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. Also, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the sale, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,439 shares of company stock worth $11,377,057 over the last ninety days. Corporate insiders own 0.25% of the company's stock.
AbbVie Trading Up 1.8 %
AbbVie stock traded up $3.80 during mid-day trading on Friday, hitting $214.55. The company's stock had a trading volume of 6,800,068 shares, compared to its average volume of 6,084,956. The firm has a market capitalization of $378.75 billion, a PE ratio of 89.40, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $215.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock's fifty day moving average is $187.63 and its two-hundred day moving average is $187.53.
AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the previous year, the business earned $2.79 earnings per share. On average, analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.
AbbVie Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is 273.33%.
Analyst Ratings Changes
A number of equities analysts have commented on ABBV shares. Piper Sandler increased their target price on AbbVie from $212.00 to $220.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Daiwa America cut AbbVie from a "strong-buy" rating to a "hold" rating in a report on Thursday, December 5th. Truist Financial increased their target price on AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Morgan Stanley increased their target price on AbbVie from $224.00 to $239.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their price target on AbbVie from $210.00 to $200.00 and set an "overweight" rating for the company in a research report on Wednesday, November 13th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $211.45.
Get Our Latest Stock Analysis 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.
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