International Assets Investment Management LLC Sells 4,706,816 Shares of AbbVie Inc. (NYSE:ABBV)

International Assets Investment Management LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 99.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,247 shares of the company’s stock after selling 4,706,816 shares during the quarter. International Assets Investment Management LLC’s holdings in AbbVie were worth $3,813,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. 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 valued at $15,614,329,000 after acquiring an additional 1,267,685 shares during the period. Assenagon Asset Management S.A. grew its position in shares of AbbVie by 59.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company’s stock valued at $414,088,000 after purchasing an additional 781,858 shares during the period. Dimensional Fund Advisors LP raised its holdings in AbbVie by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,841,189 shares of the company’s stock worth $1,516,358,000 after buying an additional 623,569 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in AbbVie by 6.1% in 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 purchasing an additional 582,953 shares during the period. Finally, Saturna Capital Corp increased its stake in AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after buying an additional 560,808 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The shares were 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 of the company’s stock, valued at approximately $1,202,751.92. The trade was 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. Company insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of ABBV traded down $1.89 during midday trading on Wednesday, hitting $177.64. 486,373 shares of the company traded hands, compared to its average volume of 4,197,568. The stock has a 50-day moving average of $180.00 and a 200-day moving average of $184.42. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 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 firm has a market cap of $313.91 billion, a P/E ratio of 61.68, a PEG ratio of 1.92 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same period last year, the firm posted $2.95 EPS. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that AbbVie Inc. will post 10.96 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.69%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is presently 227.78%.

Analysts Set New Price Targets

ABBV has been the topic of a number of recent analyst reports. Piper Sandler boosted their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company raised their target price on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. TD Cowen lifted their price objective on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Truist Financial cut their price objective on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $205.50.

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.