AbbVie Inc. $ABBV Shares Newly Purchased by Vestor Capital LLC

Vestor Capital LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 803,636 shares of the company’s stock, valued at approximately $210,223,000. AbbVie comprises about 5.9% of Vestor Capital LLC’s investment portfolio, making the stock its 4th biggest position.

Several other institutional investors also recently bought and sold shares of ABBV. State Street Corp raised its holdings in AbbVie by 1.7% in the second quarter. State Street Corp now owns 82,596,748 shares of the company’s stock worth $20,784,646,000 after buying an additional 1,379,232 shares during the last quarter. Corient Private Wealth LP bought a new position in shares of AbbVie in the second quarter worth approximately $559,736,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of AbbVie by 0.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,267,697 shares of the company’s stock valued at $3,590,323,000 after buying an additional 106,091 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of AbbVie during the second quarter valued at approximately $2,905,952,000. Finally, Deutsche Bank AG increased its position in shares of AbbVie by 13.0% during the second quarter. Deutsche Bank AG now owns 10,772,949 shares of the company’s stock valued at $2,710,905,000 after acquiring an additional 1,241,587 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $250.00, for a total value of $8,177,500.00. Following the transaction, the executive vice president directly owned 74,430 shares in the company, valued at $18,607,500. This trade represents a 30.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by company insiders.

AbbVie Stock Up 0.5%

Shares of NYSE ABBV opened at $292.87 on Tuesday. The firm’s 50-day moving average price is $272.71 and its 200-day moving average price is $239.42. AbbVie Inc. has a 52-week low of $190.75 and a 52-week high of $302.93. The company has a market cap of $517.69 billion, a PE ratio of 50.41, a PEG ratio of 1.34 and a beta of 0.20.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 30th. The company reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.09. AbbVie had a net margin of 15.67% and a negative return on equity of 450.55%. The company had revenue of $17.40 billion for the quarter, compared to the consensus estimate of $17.32 billion. During the same quarter in the prior year, the firm earned $1.86 earnings per share. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, equities research analysts anticipate that AbbVie Inc. will post 13.99 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 16th. Stockholders of record on Friday, January 15th will be issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.73. AbbVie’s payout ratio is currently 119.10%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ABBV. BMO Capital Markets set a $315.00 price objective on shares of AbbVie in a report on Wednesday, November 4th. JPMorgan Chase & Co. upped their price objective on AbbVie from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, October 8th. BNP Paribas Exane increased their target price on AbbVie from $218.00 to $247.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Piper Sandler lifted their target price on AbbVie from $298.00 to $303.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. Finally, Citigroup boosted their price target on AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $297.46.

AbbVie Profile

AbbVie is a biopharmaceutical company that discovers, develops and markets medicines for a range of serious health conditions. Its research and product portfolio spans immunology, oncology, neuroscience and other therapeutic areas.

Key products include the immunology medicines Skyrizi and Rinvoq, cancer treatments such as Imbruvica and Venclexta, and neuroscience therapies including Botox and Vraylar. Through its Allergan acquisition, AbbVie also offers aesthetics products such as Botox Cosmetic and Juvéderm.

AbbVie was established in 2013 as a spin-off from Abbott Laboratories and is headquartered in North Chicago, Illinois.