Wolff Wiese Magana LLC raised its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 10.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,097 shares of the company's stock after purchasing an additional 1,750 shares during the quarter. AbbVie accounts for about 2.1% of Wolff Wiese Magana LLC's holdings, making the stock its 8th biggest holding. Wolff Wiese Magana LLC's holdings in AbbVie were worth $3,216,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in ABBV. State Street Corp grew its position in shares of AbbVie by 1.6% in the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company's stock valued at $15,614,329,000 after buying an additional 1,267,685 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of AbbVie by 0.9% in the second 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. FMR LLC boosted its holdings in AbbVie by 3.9% in the third quarter. FMR LLC now owns 13,630,404 shares of the company's stock valued at $2,691,732,000 after acquiring an additional 511,470 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in AbbVie by 6.1% during the 3rd 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 purchasing an additional 582,953 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in AbbVie by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company's stock worth $1,842,642,000 after purchasing an additional 373,802 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the stock. TD Cowen upped their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, October 7th. Leerink Partnrs upgraded AbbVie from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Sanford C. Bernstein started coverage on AbbVie in a research report on Thursday, October 17th. They issued a "market perform" rating and a $203.00 price objective for the company. Wolfe Research assumed coverage on AbbVie in a research report on Friday, November 15th. They set an "outperform" rating and a $205.00 target price on the stock. Finally, Guggenheim lifted their target price on AbbVie from $212.00 to $221.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $205.50.
Get Our Latest Analysis on ABBV
AbbVie Stock Up 1.4 %
Shares of ABBV stock traded up $2.33 during trading hours on Thursday, reaching $173.68. The company had a trading volume of 5,228,250 shares, compared to its average volume of 5,333,275. The company has a market cap of $306.91 billion, a price-to-earnings ratio of 60.30, a price-to-earnings-growth ratio of 1.73 and a beta of 0.58. 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 12 month low of $153.58 and a 12 month high of $207.32. The business has a fifty day simple moving average of $176.88 and a 200-day simple moving average of $184.54.
AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion for the quarter, compared to analysts' expectations of $14.28 billion. During the same period last year, the business earned $2.95 EPS. The business's revenue was up 3.8% on a year-over-year basis. On average, research analysts expect that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.
AbbVie Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.78%. 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 is presently 215.28%.
Insider Buying and Selling at AbbVie
In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company's 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 owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.25% of the company's stock.
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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