Charles Schwab Investment Management Inc. Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

Charles Schwab Investment Management Inc. raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 15.1% during the 4th quarter, Holdings Channel reports. The firm owned 27,436,133 shares of the company’s stock after buying an additional 3,599,336 shares during the quarter. AbbVie comprises 0.9% of Charles Schwab Investment Management Inc.’s portfolio, making the stock its 17th largest holding. Charles Schwab Investment Management Inc.’s holdings in AbbVie were worth $4,875,401,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ABBV. Groupama Asset Managment boosted its stake in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie in the third quarter worth about $28,000. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie in the fourth quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of AbbVie in the fourth quarter worth about $31,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

NYSE:ABBV opened at $211.27 on Tuesday. AbbVie Inc. has a one year low of $153.58 and a one year high of $212.30. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The stock has a market cap of $372.97 billion, a PE ratio of 88.03, a P/E/G ratio of 1.62 and a beta of 0.58. The stock has a 50 day moving average price of $185.08 and a 200 day moving average price of $187.04.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period last year, the firm posted $2.79 earnings per share. Equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.11%. AbbVie’s dividend payout ratio is presently 273.33%.

Analyst Ratings Changes

A number of equities analysts have issued reports on ABBV shares. JPMorgan Chase & Co. lowered their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Citigroup increased their price target on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company increased their price target on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Finally, Bank of America reiterated a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research report on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This trade represents a 40.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,439 shares of company stock valued at $11,377,057. 0.25% of the stock is currently owned by insiders.

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.