AbbVie Inc. (NYSE:ABBV) Shares Sold by Auxier Asset Management

Auxier Asset Management reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,439 shares of the company’s stock after selling 250 shares during the quarter. Auxier Asset Management’s holdings in AbbVie were worth $6,604,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ABBV. International Assets Investment Management LLC raised its position in shares of 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 acquiring an additional 4,471,806 shares during the period. Assenagon Asset Management S.A. grew its position in shares of AbbVie by 314.1% during 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 acquiring an additional 997,441 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of AbbVie by 7.6% in 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 purchasing an additional 623,569 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 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. Finally, Saturna Capital Corp boosted its position in AbbVie by 486.1% during the third 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 in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on ABBV shares. JPMorgan Chase & Co. cut their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Morgan Stanley cut their price target on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. UBS Group upped their price objective on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Truist Financial lifted their target price on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, BMO Capital Markets cut their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $203.50.

AbbVie Stock Up 1.1 %

Shares of NYSE:ABBV opened at $183.08 on Friday. AbbVie Inc. has a 52-week low of $137.65 and a 52-week high of $207.32. The stock has a market cap of $323.53 billion, a P/E ratio of 63.57, a PEG ratio of 2.09 and a beta of 0.63. The business has a fifty day moving average of $188.44 and a two-hundred day moving average of $181.60. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the company posted $2.95 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts expect that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is presently 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.