Paradigm Asset Management Co. LLC Acquires 2,200 Shares of AbbVie Inc. (NYSE:ABBV)

Paradigm Asset Management Co. LLC increased its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 18.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,400 shares of the company's stock after buying an additional 2,200 shares during the period. AbbVie accounts for 0.7% of Paradigm Asset Management Co. LLC's portfolio, making the stock its 28th largest position. Paradigm Asset Management Co. LLC's holdings in AbbVie were worth $2,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ABBV. International Assets Investment Management LLC raised its stake in AbbVie by 1,745.0% in the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company's stock worth $933,698,000 after buying an additional 4,471,806 shares in the last quarter. State Street Corp increased its position in shares of AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company's stock valued at $15,614,329,000 after acquiring an additional 1,267,685 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of AbbVie by 59.5% during the third quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company's stock valued at $414,088,000 after acquiring an additional 781,858 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of AbbVie by 6.1% during the third 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 acquiring an additional 582,953 shares in the last quarter. Finally, Saturna Capital Corp increased its position in shares of AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock valued at $133,531,000 after acquiring an additional 560,808 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.25% of the company's stock.

AbbVie Price Performance

NYSE ABBV traded up $1.15 on Friday, reaching $202.03. The company had a trading volume of 5,879,957 shares, compared to its average volume of 5,370,269. The company has a quick ratio of 0.54, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock has a market capitalization of $356.64 billion, a PE ratio of 84.18, a price-to-earnings-growth ratio of 1.61 and a beta of 0.58. The firm's 50 day moving average price is $181.25 and its 200 day moving average price is $186.41. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 in the prior year, the company earned $2.79 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.25%. AbbVie's dividend payout ratio is currently 273.33%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ABBV. Daiwa Capital Markets downgraded shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price target for the company. in a research report on Thursday, December 5th. BMO Capital Markets raised their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Raymond James restated an "outperform" rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Truist Financial raised their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Finally, Bank of America reiterated a "neutral" rating and set a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $208.35.

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.