Gateway Investment Advisers LLC Has $65.76 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Gateway Investment Advisers LLC decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 15.8% in the fourth quarter, Holdings Channel reports. The fund owned 370,051 shares of the company’s stock after selling 69,230 shares during the period. AbbVie accounts for 0.7% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 25th biggest holding. Gateway Investment Advisers LLC’s holdings in AbbVie were worth $65,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Quest Partners LLC increased its position in AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares during the period. Carolinas Wealth Consulting LLC grew its position in AbbVie by 27.2% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 10,247 shares of the company’s stock worth $1,758,000 after purchasing an additional 2,189 shares during the last quarter. Altrius Capital Management Inc increased its holdings in shares of AbbVie by 5.9% during the 2nd quarter. Altrius Capital Management Inc now owns 26,014 shares of the company’s stock worth $4,462,000 after purchasing an additional 1,453 shares during the period. Miramar Capital LLC raised its position in shares of AbbVie by 0.7% during the second quarter. Miramar Capital LLC now owns 102,841 shares of the company’s stock valued at $17,639,000 after buying an additional 764 shares during the last quarter. Finally, Concorde Asset Management LLC lifted its stake in shares of AbbVie by 2.6% in the second quarter. Concorde Asset Management LLC now owns 3,151 shares of the company’s stock valued at $540,000 after buying an additional 81 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

Shares of ABBV stock opened at $173.68 on Friday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The stock has a market capitalization of $306.91 billion, a PE ratio of 60.30, a PEG ratio of 1.73 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock’s fifty day moving average is $176.88 and its 200-day moving average is $184.54.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same quarter in the prior year, the firm earned $2.95 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Equities research analysts expect that AbbVie Inc. will post 10.06 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. Investors of record on Wednesday, January 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.78%. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is 215.28%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ABBV shares. Wolfe Research began coverage on AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target for the company. Citigroup cut their target price on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Wells Fargo & Company lifted their price target on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Finally, Sanford C. Bernstein began coverage on shares of AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $205.50.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction 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. The trade was a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

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.