South Dakota Investment Council increased its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 29,071 shares of the company’s stock after purchasing an additional 900 shares during the quarter. South Dakota Investment Council’s holdings in AbbVie were worth $5,166,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in ABBV. State Street Corp raised its holdings 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 purchasing an additional 1,267,685 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 during the period. Saturna Capital Corp raised its holdings in shares of AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares during the period. FMR LLC raised its holdings in shares of AbbVie by 3.9% in the 3rd 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. Finally, Nordea Investment Management AB raised its holdings in shares of AbbVie by 19.3% in the 4th quarter. Nordea Investment Management AB now owns 2,993,734 shares of the company’s stock worth $528,993,000 after purchasing an additional 483,455 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
ABBV has been the topic of a number of research reports. BMO Capital Markets raised their price objective on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a report on Friday, November 22nd. Guggenheim raised their target price on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a report on Thursday, December 5th. Finally, Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Five equities research 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 stock. Based on data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $208.35.
Insider Buying and Selling
In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.
AbbVie Price Performance
Shares of ABBV opened at $202.03 on Monday. The firm has a market cap of $356.65 billion, a price-to-earnings ratio of 84.18, a PEG ratio of 1.61 and a beta of 0.58. The stock has a 50 day moving average of $181.25 and a 200-day moving average of $186.41. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32.
AbbVie (NYSE:ABBV – Get Free Report) last issued its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period last year, the business posted $2.79 earnings per share. As a group, analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.
AbbVie Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 273.33%.
AbbVie Company Profile
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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