Asset Management One Co. Ltd. Has $180.44 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Asset Management One Co. Ltd. lifted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 6.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 861,210 shares of the company's stock after acquiring an additional 54,265 shares during the period. AbbVie makes up approximately 0.6% of Asset Management One Co. Ltd.'s holdings, making the stock its 29th biggest holding. Asset Management One Co. Ltd.'s holdings in AbbVie were worth $180,441,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in AbbVie during the 4th quarter worth approximately $4,459,385,000. GAMMA Investing LLC raised its stake in shares of AbbVie by 25,841.6% in the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock valued at $2,144,382,000 after purchasing an additional 10,195,284 shares during the period. Raymond James Financial Inc. bought a new stake in shares of AbbVie in the fourth quarter valued at about $1,190,951,000. FMR LLC boosted its position in shares of AbbVie by 32.8% during the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock worth $3,215,903,000 after buying an additional 4,466,971 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after buying an additional 3,599,336 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Insiders Place Their Bets

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ABBV. Bank of America raised their price target on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. BNP Paribas upgraded AbbVie to a "hold" rating in a report on Thursday, May 8th. Morgan Stanley upped their target price on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Finally, Evercore ISI raised their price target on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $211.29.

AbbVie Stock Performance

AbbVie stock traded up $0.09 during midday trading on Wednesday, hitting $185.64. The company's stock had a trading volume of 4,460,969 shares, compared to its average volume of 6,224,137. The company has a 50-day moving average price of $185.46 and a two-hundred day moving average price of $187.82. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The company has a market cap of $327.91 billion, a price-to-earnings ratio of 79.00, a PEG ratio of 1.22 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.31 earnings per share. As a group, sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.53%. AbbVie's dividend payout ratio is 279.15%.

AbbVie 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.