Perpetual Ltd Has $3.46 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Perpetual Ltd lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 0.3% during the fourth quarter, HoldingsChannel reports. The fund owned 19,443 shares of the company’s stock after selling 63 shares during the quarter. Perpetual Ltd’s holdings in AbbVie were worth $3,455,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Trust Co grew its holdings in AbbVie by 1.4% during the fourth quarter. Charles Schwab Trust Co now owns 21,603 shares of the company’s stock worth $3,839,000 after buying an additional 288 shares in the last quarter. Hamlin Capital Management LLC boosted its holdings in AbbVie by 1.8% during the 4th quarter. Hamlin Capital Management LLC now owns 1,042,139 shares of the company’s stock worth $185,188,000 after acquiring an additional 18,108 shares during the last quarter. Aspiriant LLC grew its stake in shares of AbbVie by 4.9% in the 4th quarter. Aspiriant LLC now owns 8,777 shares of the company’s stock worth $1,560,000 after acquiring an additional 412 shares in the last quarter. Mitchell & Pahl Private Wealth LLC raised its holdings in shares of AbbVie by 3.7% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 16,378 shares of the company’s stock valued at $2,910,000 after purchasing an additional 588 shares during the last quarter. Finally, Atwood & Palmer Inc. lifted its position in shares of AbbVie by 1.2% during the fourth quarter. Atwood & Palmer Inc. now owns 195,903 shares of the company’s stock valued at $34,812,000 after purchasing an additional 2,377 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the subject of several analyst reports. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Truist Financial decreased their price target on AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Piper Sandler lifted their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Sanford C. Bernstein started coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective for the company. Finally, Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Five equities research 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.50.

AbbVie Stock Up 0.5 %

ABBV stock opened at $172.41 on Wednesday. The stock has a 50-day simple moving average of $175.72 and a two-hundred day simple moving average of $184.80. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The firm has a market capitalization of $304.67 billion, a PE ratio of 59.86, a PEG ratio of 1.69 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the company earned $2.95 earnings per share. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities analysts predict that AbbVie Inc. will post 10.06 EPS for the current fiscal 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 paid a dividend of $1.64 per share. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a yield of 3.80%. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’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 transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is owned by company insiders.

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.