Capital Research Global Investors Acquires 778,126 Shares of AbbVie Inc. (NYSE:ABBV)

Capital Research Global Investors increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.3% during the 4th quarter, HoldingsChannel reports. The fund owned 33,983,707 shares of the company’s stock after buying an additional 778,126 shares during the period. AbbVie accounts for approximately 1.2% of Capital Research Global Investors’ portfolio, making the stock its 19th biggest holding. Capital Research Global Investors’ holdings in AbbVie were worth $6,038,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ABBV. Quantbot Technologies LP grew its holdings in shares of AbbVie by 35.8% during the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock valued at $186,000 after buying an additional 276 shares during the last quarter. Everence Capital Management Inc. raised its stake in shares of AbbVie by 41.3% in the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after purchasing an additional 15,550 shares during the last quarter. GAMMA Investing LLC raised its position in AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after buying an additional 3,439 shares during the last quarter. Sky Investment Group LLC boosted its holdings in shares of AbbVie by 10.1% during the 4th quarter. Sky Investment Group LLC now owns 42,715 shares of the company’s stock valued at $7,590,000 after acquiring an additional 3,936 shares during the last quarter. Finally, Wedmont Private Capital grew its stake in shares of AbbVie by 16.5% in the fourth quarter. Wedmont Private Capital now owns 25,822 shares of the company’s stock worth $4,523,000 after acquiring an additional 3,654 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.6 %

Shares of ABBV opened at $172.78 on Friday. The business’s 50 day simple moving average is $198.47 and its 200-day simple moving average is $187.82. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The stock has a market capitalization of $305.64 billion, a price-to-earnings ratio of 71.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 quarter in the prior year, the business posted $2.79 EPS. As a group, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.80%. AbbVie’s payout ratio is currently 273.33%.

Insider Buying and Selling at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This represents a 52.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,471 shares of company stock worth $23,426,451 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Guggenheim reiterated a “buy” rating and set a $214.00 target price on shares of AbbVie in a research note on Thursday. BMO Capital Markets increased their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Morgan Stanley reaffirmed a “hold” rating on shares of AbbVie in a research report on Friday, April 11th. UBS Group upped their target price on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Citigroup lifted their price target on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $210.71.

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.