Matrix Trust Co Acquires 420 Shares of AbbVie Inc. (NYSE:ABBV)

Matrix Trust Co boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 3.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,839 shares of the company’s stock after purchasing an additional 420 shares during the quarter. AbbVie makes up approximately 0.4% of Matrix Trust Co’s holdings, making the stock its 29th biggest position. Matrix Trust Co’s holdings in AbbVie were worth $2,459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABBV. State Street Corp raised its holdings in shares of AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after acquiring an additional 1,267,685 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of AbbVie by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock worth $2,620,382,000 after acquiring an additional 134,239 shares in the last quarter. FMR LLC raised its holdings in shares of AbbVie by 3.9% during the 3rd quarter. FMR LLC now owns 13,630,404 shares of the company’s stock worth $2,691,732,000 after acquiring an additional 511,470 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of AbbVie by 6.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after acquiring an additional 582,953 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of AbbVie by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock worth $1,842,642,000 after acquiring an additional 373,802 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

ABBV opened at $175.18 on Monday. AbbVie Inc. has a 12-month low of $153.58 and a 12-month 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 business’s fifty day simple moving average is $178.47 and its 200-day simple moving average is $184.55. The company has a market capitalization of $309.57 billion, a price-to-earnings ratio of 60.83, a PEG ratio of 1.92 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating 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 company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter last year, the company earned $2.95 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts anticipate that AbbVie Inc. will post 10.96 earnings per share 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 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 3.74%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The stock was 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 in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on ABBV shares. Guggenheim upped their price objective on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. 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. Citigroup decreased their price target on AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a report on Friday, November 22nd. Finally, Wolfe Research started coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $205.50.

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.