AbbVie Inc. (NYSE:ABBV) Holdings Lessened by CHICAGO TRUST Co NA

CHICAGO TRUST Co NA decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 63,600 shares of the company’s stock after selling 132 shares during the quarter. AbbVie makes up about 2.0% of CHICAGO TRUST Co NA’s holdings, making the stock its 8th largest position. CHICAGO TRUST Co NA’s holdings in AbbVie were worth $11,302,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its position in AbbVie by 1,745.0% in the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after purchasing an additional 4,471,806 shares during the period. State Street Corp lifted its position in AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after purchasing an additional 1,267,685 shares during the period. Assenagon Asset Management S.A. lifted its position 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 purchasing an additional 781,858 shares during the period. Dimensional Fund Advisors LP lifted its position in AbbVie by 7.6% in the second quarter. Dimensional Fund Advisors LP now owns 8,841,189 shares of the company’s stock valued at $1,516,358,000 after purchasing an additional 623,569 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Citigroup reduced their price target on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. TD Cowen lifted their price target on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. BMO Capital Markets reduced their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Finally, Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research note on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.50.

AbbVie Stock Up 0.5 %

ABBV stock traded up $0.95 during trading on Monday, reaching $176.12. The stock had a trading volume of 1,338,135 shares, compared to its average volume of 4,532,414. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The company has a market capitalization of $311.23 billion, a P/E ratio of 61.15, a PEG ratio of 1.92 and a beta of 0.58. The firm has a fifty day moving average price of $178.47 and a 200 day moving average price of $184.55.

AbbVie (NYSE:ABBV) last issued its earnings results 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 analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.95 EPS. On average, equities analysts anticipate that AbbVie Inc. will post 10.96 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 given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is currently 227.78%.

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.