AbbVie Inc. (NYSE:ABBV) Shares Purchased by Vinva Investment Management Ltd

Vinva Investment Management Ltd lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 12.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 90,635 shares of the company’s stock after purchasing an additional 9,937 shares during the quarter. AbbVie comprises about 0.8% of Vinva Investment Management Ltd’s holdings, making the stock its 21st biggest holding. Vinva Investment Management Ltd’s holdings in AbbVie were worth $17,655,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ABBV. Quent Capital LLC raised its stake in AbbVie by 3.3% in the first quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock valued at $1,592,000 after buying an additional 283 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in shares of AbbVie during the first quarter worth about $221,000. Cetera Investment Advisers boosted its holdings in shares of AbbVie by 220.7% in the first quarter. Cetera Investment Advisers now owns 608,224 shares of the company’s stock valued at $110,758,000 after acquiring an additional 418,540 shares during the period. Cetera Advisors LLC grew its position in AbbVie by 69.8% during the 1st quarter. Cetera Advisors LLC now owns 224,418 shares of the company’s stock worth $40,866,000 after purchasing an additional 92,259 shares during the last quarter. Finally, Pathway Financial Advisers LLC purchased a new position in shares of AbbVie during the first quarter worth about $5,900,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $183.09 on Thursday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a market capitalization of $323.55 billion, a PE ratio of 63.57, a price-to-earnings-growth ratio of 2.02 and a beta of 0.63. The stock has a fifty day moving average of $188.65 and a 200-day moving average of $181.59. AbbVie Inc. has a one year low of $137.65 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter last year, the business posted $2.95 EPS. AbbVie’s revenue was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $1.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.58%. AbbVie’s dividend payout ratio is currently 215.28%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ABBV. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research note on Friday, November 22nd. William Blair upgraded AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Piper Sandler raised their price target on AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Truist Financial increased their price objective on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Wolfe Research initiated coverage on shares of AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price for the company. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $203.50.

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.