AbbVie Inc. (NYSE:ABBV) Shares Purchased by Nwam LLC

Nwam LLC grew its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 31.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,280 shares of the company's stock after acquiring an additional 4,865 shares during the quarter. Nwam LLC's holdings in AbbVie were worth $4,005,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its position in AbbVie by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company's stock worth $2,620,382,000 after acquiring an additional 134,239 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of AbbVie by 12.8% in the 1st quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company's stock valued at $1,984,490,000 after buying an additional 1,240,434 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of AbbVie by 13.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,744,190 shares of the company's stock valued at $1,956,518,000 after buying an additional 1,291,201 shares during the period. 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. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of AbbVie by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,841,189 shares of the company's stock valued at $1,516,358,000 after buying an additional 623,569 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Performance

ABBV stock traded up $5.21 during trading on Friday, hitting $176.94. The company had a trading volume of 11,326,414 shares, compared to its average volume of 5,520,662. AbbVie Inc. has a 1-year low of $137.65 and a 1-year high of $207.32. The firm has a 50-day moving average price of $189.81 and a 200-day moving average price of $180.95. The firm has a market cap of $312.68 billion, a PE ratio of 61.38, a price-to-earnings-growth ratio of 2.03 and a beta of 0.63. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.95 EPS. On average, analysts expect that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie's previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.71%. AbbVie's payout ratio is 215.28%.

Analyst Ratings Changes

Several research firms have commented on ABBV. TD Cowen boosted their price objective on AbbVie from $195.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, October 7th. Leerink Partners upgraded AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price objective for the company in a research note on Friday. Truist Financial boosted their price objective on AbbVie from $210.00 to $215.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Argus upgraded AbbVie from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Finally, BMO Capital Markets dropped their price target on AbbVie from $228.00 to $208.00 and set an "outperform" rating for the company in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus price target of $203.50.

AbbVie 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.