Bellecapital International Ltd. Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

Bellecapital International Ltd. boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,938 shares of the company’s stock after acquiring an additional 220 shares during the period. AbbVie accounts for about 2.3% of Bellecapital International Ltd.’s investment portfolio, making the stock its 14th largest position. Bellecapital International Ltd.’s holdings in AbbVie were worth $11,442,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ABBV. Vanguard Group Inc. grew its position in shares of AbbVie by 6.2% during the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after purchasing an additional 9,978,415 shares in the last quarter. Capital International Investors grew its holdings in AbbVie by 6.9% during the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock valued at $8,758,789,000 after buying an additional 3,110,601 shares in the last quarter. Capital Research Global Investors raised its position in shares of AbbVie by 3.3% during the first 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 during the last quarter. Legal & General Group Plc lifted its holdings 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 buying 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 first quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock worth $1,984,490,000 after acquiring an additional 1,240,434 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Trading Down 1.0 %

AbbVie stock traded down $1.96 during mid-day trading on Monday, hitting $186.90. The company’s stock had a trading volume of 1,035,802 shares, compared to its average volume of 5,280,299. AbbVie Inc. has a one year low of $135.85 and a one year high of $199.95. The stock has a market cap of $330.04 billion, a PE ratio of 55.78, a P/E/G ratio of 2.66 and a beta of 0.63. The company has a 50 day moving average of $194.44 and a 200-day moving average of $177.74. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.91 EPS. On average, research analysts anticipate that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.32%. AbbVie’s payout ratio is 183.98%.

Wall Street Analysts Forecast Growth

Several analysts have commented on ABBV shares. Truist Financial boosted their price target on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Bank of America boosted their target price on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday. UBS Group increased their price target on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. BMO Capital Markets lifted their price objective on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Morgan Stanley increased their target price on AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $198.47.

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.