Wealthquest Corp boosted its holdings in AbbVie Inc (NYSE:ABBV) by 4.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,971 shares of the company’s stock after purchasing an additional 275 shares during the quarter. Wealthquest Corp’s holdings in AbbVie were worth $617,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in AbbVie by 2.3% during the third quarter. State Street Corp now owns 68,783,527 shares of the company’s stock worth $5,208,289,000 after acquiring an additional 1,516,048 shares during the last quarter. FMR LLC boosted its holdings in AbbVie by 7.8% in the fourth quarter. FMR LLC now owns 40,238,885 shares of the company’s stock valued at $3,562,751,000 after purchasing an additional 2,928,045 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in AbbVie by 61.5% in the fourth quarter. Renaissance Technologies LLC now owns 11,796,744 shares of the company’s stock valued at $1,044,484,000 after purchasing an additional 4,490,046 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in AbbVie by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,940,289 shares of the company’s stock valued at $614,494,000 after purchasing an additional 228,584 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in AbbVie by 68.1% in the fourth quarter. Janus Henderson Group PLC now owns 6,307,140 shares of the company’s stock valued at $558,426,000 after purchasing an additional 2,554,873 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.
A number of brokerages recently commented on ABBV. Societe Generale downgraded AbbVie from a “buy” rating to a “hold” rating in a report on Monday. Piper Sandler increased their price target on AbbVie from to and gave the company an “overweight” rating in a report on Friday, February 7th. ValuEngine raised AbbVie from a “sell” rating to a “hold” rating in a report on Wednesday, March 18th. Cowen increased their price target on AbbVie from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, Mizuho increased their price target on AbbVie from $96.00 to $104.00 in a report on Monday, February 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $91.83.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, February 7th. The company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.02. AbbVie had a negative return on equity of 162.54% and a net margin of 23.69%. The business had revenue of $8.70 billion for the quarter, compared to analysts’ expectations of $8.68 billion. During the same period in the prior year, the firm earned $1.90 EPS. The business’s quarterly revenue was up 4.8% on a year-over-year basis. Research analysts forecast that AbbVie Inc will post 10.52 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Wednesday, April 15th will be given a $1.18 dividend. This represents a $4.72 annualized dividend and a yield of 6.95%. The ex-dividend date of this dividend is Tuesday, April 14th. AbbVie’s dividend payout ratio is currently 52.80%.
In other news, VP Brian L. Durkin purchased 2,200 shares of the stock in a transaction dated Wednesday, March 18th. The shares were bought at an average cost of $68.18 per share, for a total transaction of $149,996.00. Following the transaction, the vice president now owns 15,294 shares in the company, valued at $1,042,744.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian L. Durkin acquired 3,750 shares of AbbVie stock in a transaction dated Friday, March 20th. The shares were bought at an average cost of $68.82 per share, with a total value of $258,075.00. Following the completion of the purchase, the vice president now owns 15,294 shares in the company, valued at $1,052,533.08. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 8,825 shares of company stock worth $671,852. 0.08% of the stock is owned by insiders.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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