NEOS Investment Management LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 30.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,789 shares of the company's stock after purchasing an additional 22,381 shares during the period. NEOS Investment Management LLC's holdings in AbbVie were worth $17,022,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in AbbVie by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock worth $30,754,908,000 after acquiring an additional 1,424,237 shares during the period. State Street Corp raised its position in shares of 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 period. Charles Schwab Investment Management Inc. boosted its holdings in AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after buying an additional 3,599,336 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 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 worth $2,009,542,000 after buying an additional 582,953 shares in the last quarter. Finally, Amundi raised its holdings in AbbVie by 9.4% during the fourth quarter. Amundi now owns 8,347,296 shares of the company's stock valued at $1,489,992,000 after acquiring an additional 717,403 shares during the period. Institutional investors own 70.23% of the company's stock.
Analyst Upgrades and Downgrades
ABBV has been the topic of a number of research reports. Wells Fargo & Company lifted their price target on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. UBS Group increased their price target on AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Truist Financial lifted their price objective on AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Guggenheim increased their target price on AbbVie from $212.00 to $214.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, Piper Sandler Companies restated an "overweight" rating and issued a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $211.45.
Check Out Our Latest Analysis on ABBV
Insider Buying and Selling at AbbVie
In other news, EVP Timothy J. Richmond sold 29,917 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares of the company's stock, valued at $8,985,223.60. This trade represents a 40.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares of the company's stock, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,639 shares of company stock worth $11,067,025. Company insiders own 0.25% of the company's stock.
AbbVie Stock Up 1.2 %
Shares of ABBV stock traded up $2.40 during trading hours on Friday, reaching $205.12. 6,477,974 shares of the company's stock were exchanged, compared to its average volume of 5,704,425. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The stock's 50 day moving average is $197.50 and its 200-day moving average is $188.95. 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 company has a market cap of $362.85 billion, a price-to-earnings ratio of 85.47, a P/E/G ratio of 1.62 and a beta of 0.61.
AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter last year, the company posted $2.79 EPS. Analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.20%. AbbVie's dividend payout ratio (DPR) is presently 273.33%.
AbbVie Profile
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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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