S&CO Inc. Raises Holdings in AbbVie Inc. (NYSE:ABBV)

Key Points

• S&CO Inc. increased its holdings in AbbVie Inc. by 247.3%, acquiring an additional 4,338 shares during the first quarter, bringing their total to 6,092 shares valued at approximately $1,276,000.
• AbbVie recently reported earnings per share of $2.46 for the quarter, exceeding estimates, with revenue of $13.34 billion, up 8.4% year-over-year.
• The company announced a quarterly dividend of $1.64 per share, representing an annualized dividend yield of 3.48%, with a payout ratio of 279.15%.

S&CO Inc. boosted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 247.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,092 shares of the company's stock after purchasing an additional 4,338 shares during the quarter. S&CO Inc.'s holdings in AbbVie were worth $1,276,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in shares of AbbVie by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock valued at $6,586,948,000 after buying an additional 983,888 shares in the last quarter. Capital Research Global Investors increased its stake in AbbVie by 2.3% in the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock worth $6,038,898,000 after purchasing an additional 778,126 shares during the period. Northern Trust Corp increased its stake in AbbVie by 11.8% in the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock worth $3,878,236,000 after purchasing an additional 2,299,645 shares during the period. FMR LLC increased its stake in shares of AbbVie by 32.8% during the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock valued at $3,215,903,000 after buying an additional 4,466,971 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of AbbVie by 24.3% during the fourth quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company's stock valued at $3,064,773,000 after buying an additional 3,373,156 shares during the period. Institutional investors own 70.23% of the company's stock.

AbbVie Trading Up 3.3%

Shares of AbbVie stock traded up $6.15 on Friday, reaching $195.17. The company had a trading volume of 7,954,994 shares, compared to its average volume of 6,862,915. The firm has a market cap of $344.75 billion, a price-to-earnings ratio of 83.05, a P/E/G ratio of 1.25 and a beta of 0.48. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The firm's 50-day moving average price is $188.10 and its two-hundred day moving average price is $190.04. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company's revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the firm earned $2.65 earnings per share. As a group, research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, July 15th. AbbVie's payout ratio is presently 279.15%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. BNP Paribas raised AbbVie to a "hold" rating in a research note on Thursday, May 8th. Bank of America lifted their price target on AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Evercore ISI lifted their price target on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Raymond James Financial boosted their target price on AbbVie from $227.00 to $236.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Guggenheim upped their price target on AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a report on Friday. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $212.81.

About AbbVie

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.