Tokio Marine Asset Management Co. Ltd. Grows Position in AbbVie Inc. (NYSE:ABBV)

Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 7.1% in the third quarter, HoldingsChannel reports. The firm owned 50,119 shares of the company’s stock after buying an additional 3,304 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in AbbVie were worth $9,898,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fairway Wealth LLC purchased a new position in shares of AbbVie in the 2nd quarter worth about $26,000. Ridgewood Investments LLC bought a new position in shares of AbbVie in the second quarter worth approximately $27,000. Marquette Asset Management LLC bought a new stake in shares of AbbVie during the third quarter valued at approximately $39,000. Mizuho Securities Co. Ltd. raised its holdings in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Finally, Quest Partners LLC lifted its position in AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

NYSE ABBV traded down $0.47 on Thursday, reaching $169.88. 583,744 shares of the company’s stock traded hands, compared to its average volume of 5,408,008. The stock has a 50 day moving average price of $193.08 and a 200-day moving average price of $180.84. The firm has a market cap of $300.20 billion, a price-to-earnings ratio of 59.19, a P/E/G ratio of 2.08 and a beta of 0.63. AbbVie Inc. has a fifty-two week low of $136.30 and a fifty-two week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last announced 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 firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.95 EPS. Equities research analysts predict that AbbVie Inc. will post 10.95 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. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.86%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is 215.28%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. UBS Group increased their target price on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. BMO Capital Markets lowered their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research note on Tuesday. Guggenheim increased their price target on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Sanford C. Bernstein initiated coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target for the company. Finally, Bank of America increased their price target on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $203.83.

About AbbVie

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.