Mizuho Markets Americas LLC Decreases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Mizuho Markets Americas LLC lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 12.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,007 shares of the company’s stock after selling 4,640 shares during the period. Mizuho Markets Americas LLC’s holdings in AbbVie were worth $6,321,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Saturna Capital Corp lifted its position in shares of AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares in the last quarter. First Hawaiian Bank boosted its position in AbbVie by 9.0% in the 2nd quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock valued at $5,506,000 after buying an additional 2,657 shares during the last quarter. PGGM Investments grew its stake in shares of AbbVie by 308.1% during the second quarter. PGGM Investments now owns 32,790 shares of the company’s stock valued at $5,624,000 after acquiring an additional 24,756 shares in the last quarter. Schrum Private Wealth Management LLC lifted its stake in shares of AbbVie by 57.5% in the third quarter. Schrum Private Wealth Management LLC now owns 16,620 shares of the company’s stock worth $3,282,000 after acquiring an additional 6,065 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of AbbVie by 8.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 77,864 shares of the company’s stock valued at $15,377,000 after purchasing an additional 5,993 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 2.8 %

Shares of ABBV stock opened at $164.91 on Friday. AbbVie Inc. has a 1 year low of $137.05 and a 1 year high of $207.32. The firm has a market capitalization of $291.42 billion, a PE ratio of 57.26, a price-to-earnings-growth ratio of 2.07 and a beta of 0.63. The stock has a fifty day moving average of $192.04 and a two-hundred day moving average of $180.78. 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 during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. AbbVie’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.95 EPS. As a group, research analysts expect that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The company also recently declared 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. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Sanford C. Bernstein initiated coverage on shares of AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Wells Fargo & Company increased their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Truist Financial boosted their price objective on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Morgan Stanley reduced their target price on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, BMO Capital Markets lowered their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average target price of $203.89.

AbbVie 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.