Nomura Asset Management Co. Ltd. Has $209.41 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Nomura Asset Management Co. Ltd. boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 8.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,178,469 shares of the company's stock after acquiring an additional 95,711 shares during the quarter. AbbVie accounts for about 0.6% of Nomura Asset Management Co. Ltd.'s investment portfolio, making the stock its 21st largest holding. Nomura Asset Management Co. Ltd. owned 0.07% of AbbVie worth $209,414,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ABBV. Groupama Asset Managment grew its stake in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock valued at $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the third quarter worth approximately $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie during the fourth quarter valued at approximately $29,000. Promus Capital LLC bought a new stake in AbbVie in the fourth quarter worth approximately $30,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new position in shares of AbbVie during the 4th quarter worth $31,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of recent research reports. Daiwa America cut shares of AbbVie from a "strong-buy" rating to a "hold" rating in a report on Thursday, December 5th. Piper Sandler raised their price objective on AbbVie from $212.00 to $220.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Daiwa Capital Markets cut AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 target price for the company. in a research report on Thursday, December 5th. Raymond James restated an "outperform" rating and issued a $220.00 price objective (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Finally, Piper Sandler Companies reiterated an "overweight" rating and issued a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $211.45.

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AbbVie Trading Up 1.2 %

Shares of NYSE ABBV traded up $2.40 during midday trading on Monday, hitting $207.69. The stock had a trading volume of 3,108,254 shares, compared to its average volume of 5,694,869. The company's 50-day simple moving average is $197.50 and its 200 day simple moving average is $188.91. The firm has a market cap of $367.40 billion, a P/E ratio of 86.54, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results 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 return on equity of 296.28% and a net margin of 7.59%. During the same period in the prior year, the business earned $2.79 earnings per share. Research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Tuesday, April 15th. AbbVie's payout ratio is presently 273.33%.

Insiders Place Their Bets

In other AbbVie news, 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 $8,985,223.60. This trade represents a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares in the company, valued at approximately $2,338,401.36. The trade was a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,639 shares of company stock worth $11,067,025. Corporate insiders own 0.25% of the company's stock.

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.