Courier Capital LLC Raises Position in AbbVie Inc. (NYSE:ABBV)

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Courier Capital LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,322 shares of the company’s stock after buying an additional 374 shares during the quarter. Courier Capital LLC’s holdings in AbbVie were worth $1,980,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of AbbVie by 21.7% in the second quarter. BlackRock Inc. now owns 123,356,424 shares of the company’s stock worth $12,111,133,000 after acquiring an additional 21,974,440 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of AbbVie by 17.3% during the second quarter. Vanguard Group Inc. now owns 147,386,808 shares of the company’s stock valued at $14,470,438,000 after buying an additional 21,786,239 shares during the last quarter. Nuveen Asset Management LLC grew its position in AbbVie by 46.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 22,124,489 shares of the company’s stock worth $2,172,182,000 after purchasing an additional 7,007,887 shares during the period. Nordea Investment Management AB raised its position in shares of AbbVie by 148.1% during the 2nd quarter. Nordea Investment Management AB now owns 5,964,626 shares of the company’s stock valued at $573,976,000 after buying an additional 3,560,895 shares during the period. Finally, Bank of New York Mellon Corp raised its position in AbbVie by 15.0% in the second quarter. Bank of New York Mellon Corp now owns 21,387,563 shares of the company’s stock valued at $2,099,832,000 after purchasing an additional 2,797,448 shares during the period. 68.23% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have issued reports on ABBV. The Goldman Sachs Group lowered shares of AbbVie from a “neutral” rating to a “sell” rating in a report on Tuesday, October 20th. Citigroup increased their price objective on AbbVie from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Truist started coverage on shares of AbbVie in a research note on Friday, October 23rd. They issued a “buy” rating and a $110.00 price target for the company. SVB Leerink decreased their target price on AbbVie from $122.00 to $119.00 and set an “outperform” rating on the stock in a report on Monday, November 2nd. Finally, Morgan Stanley raised their price objective on AbbVie from $95.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, August 20th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $110.29.

NYSE ABBV opened at $98.96 on Tuesday. The company has a 50 day moving average of $88.26 and a 200-day moving average of $91.97. AbbVie Inc. has a 1-year low of $62.55 and a 1-year high of $101.28. The company has a market cap of $173.65 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 1.61 and a beta of 0.72. The company has a current ratio of 0.95, a quick ratio of 0.81 and a debt-to-equity ratio of 5.38.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, October 30th. The company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.08. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. The business had revenue of $12.88 billion during the quarter, compared to analysts’ expectations of $12.71 billion. During the same period in the previous year, the company earned $2.33 earnings per share. The business’s revenue for the quarter was up 51.9% compared to the same quarter last year. On average, equities research analysts forecast that AbbVie Inc. will post 10.48 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 16th. Shareholders of record on Friday, January 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.25%. This is a positive change from AbbVie’s previous quarterly dividend of $1.18. The ex-dividend date is Thursday, January 14th. AbbVie’s dividend payout ratio (DPR) is presently 52.80%.

In other AbbVie news, CEO Richard A. Gonzalez sold 231,604 shares of the stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $96.88, for a total value of $22,437,795.52. Company insiders own 0.09% of the company’s stock.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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