Fiduciary Trust Co Has $59.17 Million Position in AbbVie Inc. (NYSE:ABBV)

Fiduciary Trust Co trimmed its stake in AbbVie Inc. (NYSE:ABBV) by 0.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 299,605 shares of the company’s stock after selling 330 shares during the quarter. AbbVie comprises about 0.8% of Fiduciary Trust Co’s holdings, making the stock its 25th biggest position. Fiduciary Trust Co’s holdings in AbbVie were worth $59,166,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Legal & General Group Plc lifted its holdings in shares of AbbVie by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock worth $2,620,382,000 after purchasing an additional 134,239 shares in the last quarter. FMR LLC grew its holdings in shares of AbbVie by 3.9% during the third quarter. FMR LLC now owns 13,630,404 shares of the company’s stock valued at $2,691,732,000 after buying an additional 511,470 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of AbbVie by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock worth $1,842,642,000 after acquiring an additional 373,802 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of AbbVie by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,841,189 shares of the company’s stock worth $1,516,358,000 after acquiring an additional 623,569 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in AbbVie by 8.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 5,051,598 shares of the company’s stock valued at $866,450,000 after acquiring an additional 381,871 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Performance

NYSE:ABBV opened at $183.09 on Thursday. AbbVie Inc. has a 1 year low of $137.65 and a 1 year high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The business has a fifty day simple moving average of $188.65 and a two-hundred day simple moving average of $181.59. The company has a market capitalization of $323.55 billion, a P/E ratio of 63.57, a P/E/G ratio of 2.02 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.95 EPS. On average, analysts expect that AbbVie Inc. will post 10.95 earnings per share for the current 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 issued a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.58%. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Wall Street Analyst Weigh In

A number of brokerages have commented on ABBV. Morgan Stanley decreased their price objective on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. TD Cowen increased their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. dropped their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $203.50.

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.