AbbVie Inc. (NYSE:ABBV) Shares Bought by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 829,877 shares of the company’s stock after acquiring an additional 16,917 shares during the period. Rockefeller Capital Management L.P.’s holdings in AbbVie were worth $163,862,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ABBV. Quent Capital LLC lifted its position in shares of AbbVie by 3.3% during the first quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock worth $1,592,000 after purchasing an additional 283 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in AbbVie by 9.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 11,250 shares of the company’s stock valued at $2,049,000 after buying an additional 959 shares during the period. Clear Rock Advisors LLC grew its stake in shares of AbbVie by 0.7% in the first quarter. Clear Rock Advisors LLC now owns 19,921 shares of the company’s stock worth $3,628,000 after acquiring an additional 141 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of AbbVie by 40.0% during the first quarter. EverSource Wealth Advisors LLC now owns 6,805 shares of the company’s stock worth $1,239,000 after acquiring an additional 1,943 shares during the period. Finally, OMC Financial Services LTD acquired a new stake in shares of AbbVie in the first quarter valued at $9,126,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ABBV has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on AbbVie to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Bank of America boosted their price objective on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Citigroup reduced their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Barclays boosted their price target on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Guggenheim raised their price objective on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $203.50.

AbbVie Stock Up 1.1 %

Shares of NYSE:ABBV opened at $183.08 on Friday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a 1-year low of $137.65 and a 1-year high of $207.32. The firm has a fifty day moving average price of $188.44 and a 200 day moving average price of $181.60. The stock has a market cap of $323.53 billion, a P/E ratio of 63.57, a P/E/G ratio of 2.02 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its 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 return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period last year, the business posted $2.95 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Sell-side analysts predict that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.58%. 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.