1,298 Shares in AbbVie Inc. (NYSE:ABBV) Acquired by Sustainable Insight Capital Management LLC

Sustainable Insight Capital Management LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,298 shares of the company’s stock, valued at approximately $231,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABBV. 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. Legal & General Group Plc increased its holdings in shares of AbbVie by 0.9% during the second quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock valued at $2,620,382,000 after acquiring an additional 134,239 shares in the last quarter. FMR LLC raised its position in shares of AbbVie by 3.9% during the third quarter. FMR LLC now owns 13,630,404 shares of the company’s stock worth $2,691,732,000 after purchasing an additional 511,470 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of AbbVie by 6.1% in 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 worth $2,009,542,000 after purchasing an additional 582,953 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in AbbVie by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock valued at $1,842,642,000 after purchasing an additional 373,802 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Down 0.4 %

ABBV stock opened at $170.05 on Friday. The stock has a fifty day moving average of $175.74 and a 200-day moving average of $184.63. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a market capitalization of $300.51 billion, a price-to-earnings ratio of 59.05, a PEG ratio of 1.68 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 (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $2.95 earnings per share. As a group, equities research analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.86%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is currently 227.78%.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were 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 trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ABBV. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research note on Thursday, December 5th. Barclays raised their price target on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. TD Cowen boosted their price objective on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. UBS Group raised their target price on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Morgan Stanley decreased their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Five investment 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.50.

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.