AbbVie Inc. (NYSE:ABBV) Holdings Boosted by Boston Partners

Boston Partners boosted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 11.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,345,296 shares of the company's stock after buying an additional 657,824 shares during the period. AbbVie makes up about 1.6% of Boston Partners' holdings, making the stock its 3rd biggest position. Boston Partners owned approximately 0.36% of AbbVie worth $1,320,617,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Abound Financial LLC acquired a new stake in AbbVie in the first quarter valued at $30,000. Siemens Fonds Invest GmbH lifted its holdings in AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after acquiring an additional 119,141 shares during the period. Cypress Capital Management LLC WY acquired a new position in shares of AbbVie during the 1st quarter worth $35,000. Pinney & Scofield Inc. acquired a new position in shares of AbbVie during the 4th quarter worth $36,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of AbbVie during the 1st quarter worth $42,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ABBV. Piper Sandler began coverage on AbbVie in a research note on Tuesday. They set an "overweight" rating and a $231.00 price target for the company. Evercore ISI lifted their price target on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Bank of America lifted their price target on AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Cantor Fitzgerald began coverage on AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target for the company. Finally, Guggenheim lifted their price target on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Six research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $214.95.

AbbVie Trading Down 0.0%

Shares of NYSE ABBV opened at $198.56 on Wednesday. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The company has a market cap of $350.77 billion, a price-to-earnings ratio of 94.55, a P/E/G ratio of 1.28 and a beta of 0.50. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The business has a fifty day simple moving average of $190.11 and a 200-day simple moving average of $191.60.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.93 billion. During the same period in the prior year, the company earned $2.65 earnings per share. The company's revenue for the quarter was up 6.6% on a year-over-year basis. Sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio is currently 312.38%.

Insider Transactions at AbbVie

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares of the company's stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.08% of the company's stock.

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.

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