Mn Services Vermogensbeheer B.V. Increases Stake in AbbVie Inc. (NYSE:ABBV)

Mn Services Vermogensbeheer B.V. increased its holdings in AbbVie Inc. (NYSE:ABBV) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 697,404 shares of the company’s stock after acquiring an additional 13,200 shares during the quarter. AbbVie makes up about 0.8% of Mn Services Vermogensbeheer B.V.’s investment portfolio, making the stock its 20th largest position. Mn Services Vermogensbeheer B.V.’s holdings in AbbVie were worth $123,929,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABBV. State Street Corp raised its position in shares of AbbVie by 1.6% in 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in AbbVie by 6.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after purchasing an additional 582,953 shares during the last quarter. Saturna Capital Corp raised its holdings in AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares in the last quarter. FMR LLC raised its holdings in AbbVie by 3.9% in the third quarter. FMR LLC now owns 13,630,404 shares of the company’s stock worth $2,691,732,000 after purchasing an additional 511,470 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of AbbVie by 19.3% in the 4th quarter. Nordea Investment Management AB now owns 2,993,734 shares of the company’s stock valued at $528,993,000 after buying an additional 483,455 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on ABBV shares. Wells Fargo & Company boosted their price objective on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research note on Friday, November 22nd. Citigroup upped 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. Finally, Morgan Stanley raised their price target on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Stock Performance

NYSE ABBV opened at $203.08 on Thursday. The firm has a market capitalization of $358.51 billion, a P/E ratio of 84.62, a PEG ratio of 1.62 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 50-day simple moving average of $183.08 and a two-hundred day simple moving average of $186.72. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period in the previous year, the business posted $2.79 earnings per share. On average, equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.23%. AbbVie’s payout ratio is 273.33%.

Insiders Place Their Bets

In related news, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. The trade was a 20.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

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.