Exchange Traded Concepts LLC Has $13.25 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Exchange Traded Concepts LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 257.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,561 shares of the company’s stock after acquiring an additional 53,678 shares during the period. Exchange Traded Concepts LLC’s holdings in AbbVie were worth $13,249,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after purchasing an additional 1,267,685 shares during the last quarter. Legal & General Group Plc lifted its position in AbbVie by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock worth $2,620,382,000 after buying an additional 134,239 shares in the last quarter. FMR LLC boosted its stake in shares of AbbVie by 3.9% during the 3rd quarter. FMR LLC now owns 13,630,404 shares of the company’s stock worth $2,691,732,000 after buying an additional 511,470 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of AbbVie by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after acquiring an additional 582,953 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of AbbVie by 4.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock valued at $1,842,642,000 after acquiring an additional 373,802 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by insiders.

AbbVie Trading Down 0.4 %

Shares of NYSE:ABBV opened at $170.05 on Friday. The company has a market capitalization of $300.51 billion, a P/E ratio of 59.05, a P/E/G ratio of 1.68 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The business’s 50 day simple moving average is $175.74 and its 200 day simple moving average is $184.63. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results 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 return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter last year, the business earned $2.95 earnings per share. AbbVie’s revenue was up 3.8% on a year-over-year basis. On average, research analysts anticipate that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.86%. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

Analyst Ratings Changes

Several research analysts recently commented on ABBV shares. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. cut their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Morgan Stanley lowered their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Truist Financial cut their price target on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, Sanford C. Bernstein initiated coverage on shares of AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $205.50.

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.