Worldquant Millennium Advisors LLC Has $114.17 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Worldquant Millennium Advisors LLC raised its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 152.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 578,116 shares of the company's stock after purchasing an additional 348,697 shares during the period. AbbVie accounts for approximately 0.8% of Worldquant Millennium Advisors LLC's holdings, making the stock its 25th biggest holding. Worldquant Millennium Advisors LLC's holdings in AbbVie were worth $114,166,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC boosted its holdings 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 purchasing an additional 4,471,806 shares during the period. State Street Corp lifted 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 worth $15,614,329,000 after buying an additional 1,267,685 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of AbbVie by 314.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,315,000 shares of the company's stock valued at $225,549,000 after buying an additional 997,441 shares during the period. Dimensional Fund Advisors LP grew its position in shares of AbbVie by 7.6% during 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 last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in 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 worth $2,009,542,000 after acquiring an additional 582,953 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ABBV shares. Wolfe Research started coverage on AbbVie in a research note on Friday, November 15th. They issued an "outperform" rating and a $205.00 target price for the company. Morgan Stanley reduced their price objective on AbbVie from $231.00 to $224.00 and set an "overweight" rating for the company in a research report on Tuesday, November 12th. Daiwa America lowered AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Thursday. JPMorgan Chase & Co. reduced their price target on shares of AbbVie from $210.00 to $200.00 and set an "overweight" rating for the company in a report on Wednesday, November 13th. Finally, Wells Fargo & Company increased their price objective on shares of AbbVie to $195.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus price target of $202.38.

AbbVie Price Performance

NYSE ABBV traded up $0.01 on Friday, reaching $176.18. The company's stock had a trading volume of 4,834,533 shares, compared to its average volume of 5,529,598. The firm's 50 day moving average is $187.14 and its two-hundred day moving average is $182.17. The stock has a market cap of $311.33 billion, a PE ratio of 61.00, a PEG ratio of 2.08 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a twelve month low of $145.20 and a twelve month high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts' consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $2.95 earnings per share. As a group, sell-side analysts predict that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The company 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. This represents a $6.56 annualized dividend and a yield of 3.72%. The ex-dividend date is Wednesday, January 15th. AbbVie's payout ratio is 215.28%.

About AbbVie

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.