New England Asset Management Inc. Sells 110 Shares of AbbVie Inc. (NYSE:ABBV)

New England Asset Management Inc. decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,685 shares of the company’s stock after selling 110 shares during the period. New England Asset Management Inc.’s holdings in AbbVie were worth $4,875,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Capital International Investors increased its stake in shares of AbbVie by 6.9% during the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock valued at $8,758,789,000 after buying an additional 3,110,601 shares during the period. Capital Research Global Investors grew its holdings in AbbVie by 3.3% during the 1st quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock worth $5,698,847,000 after acquiring an additional 992,496 shares in the last quarter. Legal & General Group Plc increased its position in AbbVie by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock valued at $2,620,382,000 after purchasing an additional 134,239 shares during the period. Janus Henderson Group PLC raised its holdings in shares of AbbVie by 12.8% in the 1st quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock valued at $1,984,490,000 after purchasing an additional 1,240,434 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of AbbVie by 13.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,744,190 shares of the company’s stock worth $1,956,518,000 after purchasing an additional 1,291,201 shares during the period. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ABBV. Wells Fargo & Company boosted their price target on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Guggenheim lifted their price target on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. UBS Group boosted their target price on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Morgan Stanley lowered their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Finally, Barclays upped their price objective on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.89.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $166.26 on Tuesday. AbbVie Inc. has a 12 month low of $137.14 and a 12 month high of $207.32. The company has a 50-day simple moving average of $191.44 and a 200-day simple moving average of $181.08. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The company has a market cap of $293.80 billion, a PE ratio of 57.73, a price-to-earnings-growth ratio of 2.01 and a beta of 0.63.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period last year, the company earned $2.95 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently declared 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 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 3.95%. AbbVie’s dividend payout ratio is 215.28%.

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.