DORCHESTER WEALTH MANAGEMENT Co Has $1.20 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

DORCHESTER WEALTH MANAGEMENT Co boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,745 shares of the company’s stock after acquiring an additional 190 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in AbbVie were worth $1,199,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ABBV. State Street Corp grew its holdings in AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after acquiring an additional 1,267,685 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in AbbVie by 6.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after acquiring an additional 582,953 shares during the period. Saturna Capital Corp grew its holdings in AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after acquiring an additional 560,808 shares during the period. FMR LLC grew its holdings in AbbVie by 3.9% during the 3rd quarter. FMR LLC now owns 13,630,404 shares of the company’s stock worth $2,691,732,000 after acquiring an additional 511,470 shares during the period. Finally, Nordea Investment Management AB grew its holdings in AbbVie by 19.3% during the 4th quarter. Nordea Investment Management AB now owns 2,993,734 shares of the company’s stock worth $528,993,000 after acquiring an additional 483,455 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a report on Friday, November 22nd. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. UBS Group boosted their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Morgan Stanley boosted their price target on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Trading Up 0.6 %

Shares of NYSE:ABBV opened at $202.03 on Friday. The company’s 50-day moving average price is $181.25 and its two-hundred day moving average price is $186.42. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.54. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The stock has a market capitalization of $356.64 billion, a PE ratio of 84.18, a price-to-earnings-growth ratio of 1.61 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the prior year, the firm earned $2.79 earnings per share. On average, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.25%. AbbVie’s payout ratio is 273.33%.

AbbVie Company 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.