Beaton Management Co. Inc. Has $1.88 Million Position in AbbVie Inc. (NYSE:ABBV)

Beaton Management Co. Inc. increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,550 shares of the company’s stock after buying an additional 116 shares during the period. Beaton Management Co. Inc.’s holdings in AbbVie were worth $1,875,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its holdings in AbbVie by 1,745.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after purchasing an additional 4,471,806 shares during the last quarter. State Street Corp raised its stake in AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after buying an additional 1,267,685 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in AbbVie by 59.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company’s stock valued at $414,088,000 after buying an additional 781,858 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. Finally, Saturna Capital Corp raised its position in shares of AbbVie by 486.1% in 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 in the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV opened at $193.00 on Tuesday. 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 stock has a market cap of $341.05 billion, a PE ratio of 80.42, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The stock has a fifty day moving average of $178.93 and a 200-day moving average of $186.04.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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 return on equity of 257.91% and a net margin of 7.59%. During the same period in the previous year, the company posted $2.79 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 12.32 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be given a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.40%. AbbVie’s dividend payout ratio (DPR) is presently 273.33%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wolfe Research began coverage on AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target on the stock. Piper Sandler increased their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Guggenheim increased their price objective on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Citigroup boosted their target price on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $208.35.

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.