Sumitomo Mitsui DS Asset Management Company Ltd Boosts Holdings in AbbVie Inc. (NYSE:ABBV)

by · The Cerbat Gem

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in AbbVie Inc. (NYSE:ABBV – Free Report) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 188,329 shares of the company’s stock after buying an additional 8,604 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in AbbVie were worth $28,072,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vantage Consulting Group Inc boosted its position in shares of AbbVie by 4.2% during the 2nd quarter. Vantage Consulting Group Inc now owns 1,667 shares of the company’s stock worth $225,000 after purchasing an additional 67 shares during the period. Syntax Advisors LLC boosted its position in shares of AbbVie by 4.2% during the 2nd quarter. Syntax Advisors LLC now owns 1,667 shares of the company’s stock worth $225,000 after purchasing an additional 67 shares during the period. Goepper Burkhardt LLC boosted its position in shares of AbbVie by 1.9% during the 4th quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock worth $567,000 after purchasing an additional 67 shares during the period. Clearwater Capital Advisors LLC boosted its position in shares of AbbVie by 3.9% during the 3rd quarter. Clearwater Capital Advisors LLC now owns 1,859 shares of the company’s stock worth $277,000 after purchasing an additional 69 shares during the period. Finally, Founders Capital Management LLC boosted its position in shares of AbbVie by 0.3% during the 3rd quarter. Founders Capital Management LLC now owns 22,926 shares of the company’s stock worth $3,417,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 67.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Morgan Stanley increased their price objective on shares of AbbVie from $193.00 to $196.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. The Goldman Sachs Group raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price target for the company in a research report on Monday, December 11th. Barclays raised shares of AbbVie from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $160.00 to $170.00 in a research report on Monday, October 30th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of AbbVie in a report on Thursday, November 9th. They issued a “hold” rating and a $150.00 price objective on the stock. Finally, StockNews.com assumed coverage on shares of AbbVie in a report on Thursday, October 5th. They issued a “strong-buy” rating on the stock. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $166.81.

Get Our Latest Research Report on AbbVie

AbbVie Trading Down 0.7 %

Shares of AbbVie stock opened at $163.78 on Friday. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $166.20. The company has a debt-to-equity ratio of 4.59, a quick ratio of 0.84 and a current ratio of 0.96. The company has a market capitalization of $294.80 billion, a P/E ratio of 44.87, a PEG ratio of 2.88 and a beta of 0.50. The company’s fifty day moving average is $148.41 and its two-hundred day moving average is $146.73.

AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings data on Friday, October 27th. The company reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.09. AbbVie had a net margin of 11.81% and a return on equity of 152.70%. The company had revenue of $13.93 billion for the quarter, compared to the consensus estimate of $13.72 billion. During the same period last year, the firm posted $3.66 EPS. AbbVie’s revenue for the quarter was down 6.0% on a year-over-year basis. Analysts forecast that AbbVie Inc. will post 11.06 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be issued a $1.55 dividend. This is an increase from AbbVie’s previous quarterly dividend of $1.48. The ex-dividend date is Friday, January 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.79%. AbbVie’s payout ratio is presently 169.86%.

Insider Activity

In other news, EVP Nicholas Donoghoe sold 2,912 shares of AbbVie stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $154.72, for a total value of $450,544.64. Following the sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at $8,649,312.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

AbbVie Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.

See Also

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV – Free Report).