Stokes Capital Advisors LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,701 shares of the company's stock after purchasing an additional 1,594 shares during the quarter. AbbVie comprises about 1.7% of Stokes Capital Advisors LLC's portfolio, making the stock its 25th biggest position. Stokes Capital Advisors LLC's holdings in AbbVie were worth $6,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in shares of AbbVie by 1,745.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company's stock valued at $933,698,000 after purchasing an additional 4,471,806 shares during the period. State Street Corp raised its stake in AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company's stock worth $15,614,329,000 after buying an additional 1,267,685 shares during the period. Assenagon Asset Management S.A. increased its stake in AbbVie by 59.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company's stock worth $414,088,000 after purchasing an additional 781,858 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in AbbVie by 6.1% in 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 buying 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 worth $133,531,000 after acquiring an additional 560,808 shares in the last quarter. Institutional investors own 70.23% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have issued reports on ABBV. Citigroup dropped their price target on AbbVie from $226.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Piper Sandler lifted their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Guggenheim raised their price objective on AbbVie from $212.00 to $221.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. UBS Group increased their price target on AbbVie from $195.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Finally, Truist Financial lowered their price target on AbbVie from $215.00 to $211.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $205.50.
Check Out Our Latest Report on ABBV
AbbVie Stock Performance
Shares of ABBV stock traded up $0.06 on Tuesday, hitting $171.62. The company's stock had a trading volume of 3,319,685 shares, compared to its average volume of 5,359,139. The company has a market capitalization of $303.28 billion, a PE ratio of 59.59, a PEG ratio of 1.69 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. 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 stock's 50 day moving average is $175.72 and its 200-day moving average is $184.80.
AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $2.95 EPS. Equities research analysts expect that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.
AbbVie Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This is an increase from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.82%. AbbVie's payout ratio is presently 227.78%.
Insider Transactions at AbbVie
In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.25% of the company's stock.
AbbVie Company Profile
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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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