Mutual of America Capital Management LLC Has $46.17 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Mutual of America Capital Management LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.4% during the third quarter, Holdings Channel.com reports. The firm owned 233,807 shares of the company’s stock after selling 5,748 shares during the quarter. AbbVie makes up 0.5% of Mutual of America Capital Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Mutual of America Capital Management LLC’s holdings in AbbVie were worth $46,172,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Capital International Investors raised 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 worth $8,758,789,000 after purchasing an additional 3,110,601 shares during the last quarter. Capital Research Global Investors raised its stake in AbbVie by 3.3% during the first quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock worth $5,698,847,000 after buying an additional 992,496 shares during the last quarter. Legal & General Group Plc lifted its holdings in AbbVie by 0.9% in the second quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock valued at $2,620,382,000 after buying an additional 134,239 shares during the period. Janus Henderson Group PLC boosted its position in AbbVie by 12.8% during the first 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. Finally, Price T Rowe Associates Inc. MD grew its holdings in AbbVie by 13.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,744,190 shares of the company’s stock worth $1,956,518,000 after acquiring an additional 1,291,201 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $164.99 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. The stock has a market cap of $291.56 billion, a PE ratio of 57.29, a price-to-earnings-growth ratio of 2.07 and a beta of 0.63. The stock’s fifty day simple moving average is $192.04 and its two-hundred day simple moving average is $180.91. AbbVie Inc. has a 1-year low of $137.05 and a 1-year high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $14.28 billion. During the same period last year, the firm earned $2.95 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. As a group, analysts forecast that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.98%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is presently 227.78%.

Wall Street Analyst Weigh In

Several brokerages recently commented on ABBV. Piper Sandler upped their target price on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Sanford C. Bernstein initiated coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. TD Cowen raised their price objective on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Citigroup dropped their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, Truist Financial raised their price target on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $203.89.

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.