Nisa Investment Advisors LLC Has $112.02 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Nisa Investment Advisors LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 567,226 shares of the company’s stock after buying an additional 18,610 shares during the period. AbbVie makes up 0.7% of Nisa Investment Advisors LLC’s investment portfolio, making the stock its 22nd largest holding. Nisa Investment Advisors LLC’s holdings in AbbVie were worth $112,016,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Fairway Wealth LLC bought a new position in AbbVie in the 2nd quarter valued at about $26,000. Ridgewood Investments LLC purchased a new position in AbbVie during the 2nd quarter worth $27,000. Quest Partners LLC grew its stake in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new stake in shares of AbbVie in the first quarter valued at about $37,000. Finally, Marquette Asset Management LLC bought a new position in shares of AbbVie during the third quarter valued at about $39,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 1.1 %

ABBV stock traded up $2.02 on Monday, reaching $189.87. The company’s stock had a trading volume of 1,411,622 shares, compared to its average volume of 5,269,278. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The business has a fifty day simple moving average of $194.02 and a two-hundred day simple moving average of $178.40. The firm has a market cap of $335.29 billion, a PE ratio of 56.35, a PEG ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a 12-month low of $135.85 and a 12-month high of $199.95.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.91 earnings per share. As a group, research analysts forecast that AbbVie Inc. will post 10.85 EPS for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.27%. AbbVie’s payout ratio is currently 183.98%.

Insiders Place Their Bets

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

ABBV has been the subject of several research analyst reports. Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research report on Wednesday, July 3rd. Citigroup lifted their price target on shares of AbbVie from $170.00 to $215.00 and gave the stock a “buy” rating in a report on Friday. Truist Financial increased their price objective on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 10th. BMO Capital Markets upped their price target on AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley lifted their price objective on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $199.39.

AbbVie 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.