Royal London Asset Management Ltd. raised its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,371,288 shares of the company's stock after buying an additional 12,248 shares during the period. AbbVie comprises about 0.7% of Royal London Asset Management Ltd.'s holdings, making the stock its 24th largest position. Royal London Asset Management Ltd. owned approximately 0.08% of AbbVie worth $270,802,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Fairway Wealth LLC purchased a new stake in AbbVie during the second quarter worth about $26,000. Ridgewood Investments LLC bought a new stake in shares of AbbVie during the 2nd quarter valued at $27,000. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie during the 3rd quarter worth about $28,000. Quest Partners LLC boosted its stake in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company's stock worth $36,000 after purchasing an additional 207 shares during the period. Finally, Marquette Asset Management LLC purchased a new position in AbbVie during the 3rd quarter valued at about $39,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.
AbbVie Price Performance
ABBV traded down $1.47 during midday trading on Thursday, hitting $174.99. The company had a trading volume of 1,596,288 shares, compared to its average volume of 5,516,047. The firm's 50-day simple moving average is $187.45 and its 200-day simple moving average is $182.21. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a market capitalization of $309.23 billion, a PE ratio of 61.10, a P/E/G ratio of 2.08 and a beta of 0.58. AbbVie Inc. has a twelve month low of $144.73 and a twelve month high of $207.32.
AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts' consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter last year, the firm posted $2.95 EPS. The company's quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts predict that AbbVie Inc. will post 10.95 EPS for the current fiscal year.
AbbVie Increases Dividend
The firm also recently declared 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. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.75%. This is an increase from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie's dividend payout ratio (DPR) is presently 215.28%.
Analysts Set New Price Targets
Several equities research analysts have issued reports on ABBV shares. Barclays lifted their price target on AbbVie from $200.00 to $212.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. William Blair raised AbbVie to a "strong-buy" rating in a research report on Friday, August 30th. Wolfe Research initiated coverage on shares of AbbVie in a research report on Friday, November 15th. They issued an "outperform" rating and a $205.00 price target on the stock. Leerink Partners upgraded AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price target for the company in a report on Friday, November 22nd. Finally, Wells Fargo & Company increased their target price on shares of AbbVie to $195.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $202.38.
View Our Latest Research Report on AbbVie
About AbbVie
(
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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