AbbVie Inc. (NYSE:ABBV) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in AbbVie Inc. (NYSE:ABBV) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,269,854 shares of the company’s stock after selling 29,310 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in AbbVie were worth $448,251,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ABBV. Fairway Wealth LLC bought a new position in shares of AbbVie during the second quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new stake in AbbVie in the second quarter worth $27,000. Marquette Asset Management LLC bought a new stake in AbbVie in the third quarter valued at $39,000. Mizuho Securities Co. Ltd. grew its position in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of AbbVie in the 3rd quarter worth about $39,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Trading Up 0.1 %

Shares of ABBV opened at $177.06 on Tuesday. AbbVie Inc. has a 1-year low of $137.65 and a 1-year high of $207.32. The business’s 50-day moving average price is $189.09 and its 200 day moving average price is $181.44. The stock has a market capitalization of $312.89 billion, a P/E ratio of 61.48, a P/E/G ratio of 2.16 and a beta of 0.63. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping 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 firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same quarter last year, the business posted $2.95 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Analysts expect that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.70%. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of analyst reports. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. UBS Group increased their price objective on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. TD Cowen lifted their target price on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Bank of America increased their price target on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Guggenheim lifted their price objective on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $203.50.

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.