Segall Bryant & Hamill LLC purchased a new position in AbbVie Inc. (NYSE:ABBV – Free Report) in the third quarter, Holdings Channel.com reports. The fund purchased 41,366 shares of the company’s stock, valued at approximately $8,169,000.
Several other large investors have also added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its position in shares of AbbVie by 1,745.0% in the 3rd 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 in the last quarter. Swedbank AB bought a new position in AbbVie in the first quarter worth $367,372,000. Price T Rowe Associates Inc. MD lifted its position in AbbVie by 13.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,744,190 shares of the company’s stock valued at $1,956,518,000 after buying an additional 1,291,201 shares during the period. Janus Henderson Group PLC boosted its holdings 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 buying an additional 1,240,434 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of AbbVie by 314.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,315,000 shares of the company’s stock worth $225,549,000 after buying an additional 997,441 shares during the period. Institutional investors own 70.23% of the company’s stock.
AbbVie Trading Up 2.6 %
Shares of ABBV stock opened at $172.18 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12-month low of $137.65 and a 12-month high of $207.32. The stock has a market capitalization of $304.27 billion, a P/E ratio of 59.78, a P/E/G ratio of 2.03 and a beta of 0.63. The firm’s 50 day moving average is $189.81 and its 200 day moving average is $180.95.
AbbVie Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is 215.28%.
Analyst Ratings Changes
A number of brokerages recently issued reports on ABBV. Guggenheim boosted their price objective on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Piper Sandler boosted their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. TD Cowen raised their price objective on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. BMO Capital Markets dropped their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $203.37.
View Our Latest Report on AbbVie
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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