AIA Group Ltd Has $8.01 Million Holdings in AbbVie Inc. (NYSE:ABBV)

AIA Group Ltd grew its holdings in AbbVie Inc. (NYSE:ABBV) by 276.0% in the 1st quarter, Holdings Channel reports. The fund owned 43,995 shares of the company’s stock after purchasing an additional 32,295 shares during the quarter. AIA Group Ltd’s holdings in AbbVie were worth $8,011,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in AbbVie in the 4th quarter worth $3,229,888,000. International Assets Investment Management LLC bought a new stake in shares of AbbVie in the fourth quarter valued at about $499,955,000. Capital International Investors grew its position in AbbVie by 6.0% during the fourth quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after buying an additional 2,542,463 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in AbbVie by 39.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock worth $1,305,252,000 after buying an additional 2,390,239 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in AbbVie by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after acquiring an additional 1,702,415 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the subject of a number of research reports. BMO Capital Markets reduced their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research report on Wednesday, July 3rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a report on Tuesday. Piper Sandler reaffirmed an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a report on Tuesday, July 2nd. Finally, Barclays decreased their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.07.

AbbVie Price Performance

Shares of AbbVie stock traded up $0.37 during trading on Friday, reaching $170.28. The company’s stock had a trading volume of 4,131,971 shares, compared to its average volume of 5,593,598. AbbVie Inc. has a one year low of $132.70 and a one year high of $182.89. The stock has a 50-day moving average price of $165.23 and a two-hundred day moving average price of $168.39. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The stock has a market capitalization of $300.69 billion, a P/E ratio of 50.53, a price-to-earnings-growth ratio of 2.18 and a beta of 0.64.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. AbbVie’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business earned $2.46 earnings per share. As a group, sell-side analysts anticipate that AbbVie Inc. will post 10.73 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $1.55 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.64%. AbbVie’s payout ratio is 183.98%.

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.