Nations Financial Group Inc. IA ADV increased its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 19.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,958 shares of the company's stock after purchasing an additional 4,566 shares during the period. Nations Financial Group Inc. IA ADV's holdings in AbbVie were worth $5,521,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in AbbVie by 6.2% during the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company's stock valued at $31,025,605,000 after acquiring an additional 9,978,415 shares in the last quarter. Capital International Investors lifted its position in shares of AbbVie by 6.9% in the first quarter. Capital International Investors now owns 48,098,784 shares of the company's stock worth $8,758,789,000 after buying an additional 3,110,601 shares in the last quarter. Capital Research Global Investors grew its holdings in AbbVie by 3.3% during the 1st quarter. Capital Research Global Investors now owns 31,295,150 shares of the company's stock valued at $5,698,847,000 after buying an additional 992,496 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of AbbVie by 0.9% during the 2nd 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 in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of AbbVie by 12.8% during the 1st quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company's stock valued at $1,984,490,000 after acquiring an additional 1,240,434 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of AbbVie from $218.00 to $231.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Barclays upped their price objective on AbbVie from $200.00 to $212.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Wells Fargo & Company boosted their target price on AbbVie from $200.00 to $205.00 and gave the company an "overweight" rating in a research report on Friday, July 26th. Bank of America raised their price target on AbbVie from $185.00 to $195.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Finally, Argus upgraded shares of AbbVie from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and an average target price of $205.82.
View Our Latest Analysis on ABBV
Shares of NYSE:ABBV traded down $24.45 during trading hours on Monday, hitting $175.05. The company's stock had a trading volume of 4,343,740 shares, compared to its average volume of 5,317,106. The firm's fifty day moving average price is $194.58 and its 200 day moving average price is $180.78. AbbVie Inc. has a 52 week low of $136.30 and a 52 week high of $207.32. The company has a market capitalization of $309.34 billion, a price-to-earnings ratio of 60.73, a P/E/G ratio of 2.46 and a beta of 0.63. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.71.
AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts' consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the previous year, the firm posted $2.95 earnings per share. AbbVie's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts expect that AbbVie Inc. will post 10.96 EPS for the current year.
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 $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.75%. 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 (DPR) is 215.28%.
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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