AbbVie Inc. (NYSE:ABBV) Stock Position Raised by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. boosted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 10.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,082,758 shares of the company's stock after buying an additional 103,590 shares during the period. AbbVie accounts for approximately 0.7% of Nomura Asset Management Co. Ltd.'s investment portfolio, making the stock its 20th largest holding. Nomura Asset Management Co. Ltd. owned 0.06% of AbbVie worth $213,823,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Raab & Moskowitz Asset Management LLC boosted its position in shares of AbbVie by 0.3% during the third quarter. Raab & Moskowitz Asset Management LLC now owns 26,514 shares of the company's stock worth $5,236,000 after buying an additional 81 shares during the period. MML Investors Services LLC raised its stake in AbbVie by 2.2% during the 3rd quarter. MML Investors Services LLC now owns 548,661 shares of the company's stock valued at $108,350,000 after acquiring an additional 11,580 shares in the last quarter. Mosaic Financial Group LLC acquired a new position in AbbVie during the 3rd quarter worth $230,000. Kensington Investment Counsel LLC boosted its position in AbbVie by 1.0% during the 3rd quarter. Kensington Investment Counsel LLC now owns 30,872 shares of the company's stock worth $6,097,000 after acquiring an additional 316 shares during the period. Finally, Dunhill Financial LLC grew its stake in shares of AbbVie by 199.6% in the third quarter. Dunhill Financial LLC now owns 710 shares of the company's stock worth $140,000 after purchasing an additional 473 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Up 0.2 %

NYSE ABBV traded up $0.44 on Monday, hitting $176.63. 4,394,398 shares of the stock were exchanged, compared to its average volume of 5,525,043. The company's 50-day moving average price is $186.35 and its two-hundred day moving average price is $182.67. 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 Inc. has a 52-week low of $150.16 and a 52-week high of $207.32. The company has a market capitalization of $312.12 billion, a price-to-earnings ratio of 61.33, a P/E/G ratio of 2.01 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts' consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.95 earnings per share. Research analysts predict that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. 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 yield of 3.71%. AbbVie's payout ratio is presently 215.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ABBV shares. Piper Sandler lifted their price objective on shares of AbbVie from $196.00 to $209.00 and gave the company an "overweight" rating in a research note on Friday, August 23rd. Leerink Partnrs upgraded shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. Daiwa America cut shares of AbbVie from a "strong-buy" rating to a "hold" rating in a report on Thursday. Truist Financial boosted their target price on AbbVie from $210.00 to $215.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Finally, Sanford C. Bernstein initiated coverage on AbbVie in a research report on Thursday, October 17th. They issued a "market perform" rating and a $203.00 target price for the company. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, AbbVie presently has an average rating of "Moderate Buy" and a consensus price target of $202.38.

AbbVie Company 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.