Mirae Asset Global Investments Co. Ltd. Purchases 33,124 Shares of AbbVie Inc. (NYSE:ABBV)

Mirae Asset Global Investments Co. Ltd. lifted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 4.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 712,999 shares of the company's stock after purchasing an additional 33,124 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in AbbVie were worth $144,570,000 at the end of the most recent quarter.

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

AbbVie Stock Up 2.3%

Shares of NYSE:ABBV traded up $4.30 during trading on Tuesday, hitting $189.92. 5,914,838 shares of the company were exchanged, compared to its average volume of 6,249,168. The stock has a market cap of $335.47 billion, a price-to-earnings ratio of 80.82, a P/E/G ratio of 1.21 and a beta of 0.50. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The firm has a fifty day moving average price of $186.52 and a two-hundred day moving average price of $188.21. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14.

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

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 dividend on an annualized basis and a yield of 3.45%. AbbVie's dividend payout ratio (DPR) is 279.15%.

Analysts Set New Price Targets

A number of research firms recently commented on ABBV. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Wells Fargo & Company upped their price target on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Citigroup lifted their price objective on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research note on Wednesday, June 11th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Finally, Bank of America lifted their price target on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Eight 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $211.29.

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.