AbbVie Inc. (NYSE:ABBV) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 163.9% in the 3rd quarter, Holdings Channel reports. The fund owned 615,498 shares of the company’s stock after acquiring an additional 382,242 shares during the period. Los Angeles Capital Management LLC’s holdings in AbbVie were worth $121,549,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in ABBV. Vanguard Group Inc. lifted its holdings in AbbVie by 6.2% in the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after acquiring an additional 9,978,415 shares during the period. International Assets Investment Management LLC increased its holdings in shares of AbbVie by 1,745.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after purchasing an additional 4,471,806 shares in the last quarter. Capital World Investors lifted its stake in shares of AbbVie by 249.1% in the first quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock valued at $796,357,000 after purchasing an additional 3,120,310 shares during the period. Capital International Investors boosted its holdings in AbbVie by 6.9% during the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after buying an additional 3,110,601 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in shares of AbbVie by 156.0% during the 1st quarter. TD Asset Management Inc now owns 3,474,020 shares of the company’s stock valued at $632,619,000 after acquiring an additional 2,116,997 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

AbbVie stock opened at $199.50 on Monday. The stock has a fifty day moving average price of $194.58 and a 200 day moving average price of $180.69. The company has a current ratio of 0.65, a quick ratio of 0.71 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 52 week low of $135.85 and a 52 week high of $207.32. The firm has a market capitalization of $352.54 billion, a P/E ratio of 69.27, a PEG ratio of 2.46 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period in the prior year, the firm posted $2.95 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Equities research analysts anticipate that AbbVie Inc. will post 10.96 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid 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 annualized dividend and a yield of 3.29%. AbbVie’s dividend payout ratio is currently 215.28%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. BMO Capital Markets raised their price objective on AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. TD Cowen lifted their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Wells Fargo & Company increased their price objective on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Sanford C. Bernstein initiated coverage on shares of AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Finally, Morgan Stanley raised their price objective on shares of AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.82.

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.