Charles Schwab Investment Management Inc. Sells 1,137,780 Shares of AbbVie Inc. (NYSE:ABBV)

Charles Schwab Investment Management Inc. decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 4.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,836,797 shares of the company’s stock after selling 1,137,780 shares during the quarter. AbbVie makes up about 0.9% of Charles Schwab Investment Management Inc.’s investment portfolio, making the stock its 16th biggest holding. Charles Schwab Investment Management Inc.’s holdings in AbbVie were worth $4,706,951,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. increased its position in shares of AbbVie by 5.1% during the third quarter. Pacer Advisors Inc. now owns 391,915 shares of the company’s stock worth $77,395,000 after buying an additional 19,025 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of AbbVie by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock valued at $1,842,642,000 after acquiring an additional 373,802 shares during the period. Integrated Investment Consultants LLC raised its holdings in AbbVie by 2,338.6% during the 3rd quarter. Integrated Investment Consultants LLC now owns 169,189 shares of the company’s stock valued at $33,411,000 after acquiring an additional 162,251 shares during the period. Thompson Siegel & Walmsley LLC lifted its stake in AbbVie by 1.0% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 73,339 shares of the company’s stock worth $14,483,000 after purchasing an additional 710 shares in the last quarter. Finally, LPL Financial LLC grew its stake in AbbVie by 3.6% in the 3rd quarter. LPL Financial LLC now owns 2,657,804 shares of the company’s stock worth $524,863,000 after buying an additional 92,492 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research analyst reports. Barclays raised their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. BMO Capital Markets dropped their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Wells Fargo & Company upped their price objective on shares of AbbVie to $195.00 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler upped their price objective on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, UBS Group upped their price objective on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $203.37.

AbbVie Stock Performance

ABBV opened at $167.45 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The company has a market cap of $295.91 billion, a price-to-earnings ratio of 58.24, a PEG ratio of 2.03 and a beta of 0.63. The company’s fifty day moving average price is $190.25 and its two-hundred day moving average price is $181.01. AbbVie Inc. has a 1-year low of $137.65 and a 1-year high of $207.32.

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

AbbVie Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.92%. AbbVie’s dividend payout ratio (DPR) is 215.28%.

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.