AbbVie Inc. (NYSE:ABBV) Stock Holdings Lifted by Prudential PLC

Prudential PLC increased its position in AbbVie Inc. (NYSE:ABBV) by 27.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 175,432 shares of the company’s stock after purchasing an additional 37,858 shares during the period. Prudential PLC’s holdings in AbbVie were worth $36,757,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of AbbVie by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company’s stock worth $36,439,271,000 after purchasing an additional 845,787 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of AbbVie by 2.3% during the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock worth $6,038,898,000 after acquiring an additional 778,126 shares in the last quarter. Northern Trust Corp boosted its stake in shares of AbbVie by 11.8% during the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company’s stock worth $3,878,236,000 after acquiring an additional 2,299,645 shares in the last quarter. Capital World Investors increased its holdings in shares of AbbVie by 6.2% during the 4th quarter. Capital World Investors now owns 16,410,277 shares of the company’s stock valued at $2,915,990,000 after acquiring an additional 959,242 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in AbbVie by 31.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock worth $3,068,820,000 after purchasing an additional 3,519,187 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by company insiders.

AbbVie Stock Performance

Shares of AbbVie stock opened at $198.46 on Tuesday. The firm has a fifty day moving average of $189.88 and a two-hundred day moving average of $191.55. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The stock has a market capitalization of $350.59 billion, a price-to-earnings ratio of 94.50, a PEG ratio of 1.27 and a beta of 0.50. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $218.66.

AbbVie (NYSE:ABBV) last released its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). The company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.65 EPS. As a group, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, July 15th. AbbVie’s payout ratio is 312.38%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Daiwa Capital Markets upgraded AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price objective on the stock in a research note on Thursday, August 7th. Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Bank of America increased their target price on shares of AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday, June 9th. Finally, Cantor Fitzgerald initiated coverage on AbbVie in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $214.43.

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.