Fmr LLC Has $2.69 Billion Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Fmr LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 13,630,404 shares of the company’s stock after acquiring an additional 511,470 shares during the quarter. Fmr LLC owned approximately 0.77% of AbbVie worth $2,691,732,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Fairway Wealth LLC acquired a new position in AbbVie during the 2nd quarter worth about $26,000. Ridgewood Investments LLC acquired a new stake in shares of AbbVie in the second quarter valued at about $27,000. Quest Partners LLC raised its position in shares of AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares during the last quarter. Marquette Asset Management LLC acquired a new position in shares of AbbVie in the third quarter worth approximately $39,000. Finally, Mizuho Securities Co. Ltd. lifted its stake in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV opened at $177.06 on Tuesday. The firm has a market capitalization of $312.89 billion, a P/E ratio of 61.48, a P/E/G ratio of 2.16 and a beta of 0.63. AbbVie Inc. has a 52 week low of $137.65 and a 52 week high of $207.32. The stock has a 50 day moving average price of $189.09 and a two-hundred day moving average price of $181.44. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

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

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend 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 yield of 3.70%. AbbVie’s payout ratio is 227.78%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ABBV shares. Guggenheim increased their target price on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Sanford C. Bernstein began coverage on shares of AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. BMO Capital Markets dropped their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. TD Cowen increased their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Morgan Stanley dropped their price objective on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus 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.