DORCHESTER WEALTH MANAGEMENT Co Has $1.20 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

DORCHESTER WEALTH MANAGEMENT Co boosted its stake in AbbVie Inc. (NYSE:ABBV) by 2.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,745 shares of the company’s stock after buying an additional 190 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in AbbVie were worth $1,199,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of ABBV. State Street Corp grew its position 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 purchasing an additional 1,267,685 shares in the last quarter. FMR LLC grew its position 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 purchasing an additional 511,470 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 purchasing an additional 582,953 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position 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 purchasing an additional 373,802 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of AbbVie by 1.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,119,235 shares of the company’s stock worth $813,467,000 after purchasing an additional 38,854 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction 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 $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

ABBV stock opened at $202.03 on Friday. The company has a fifty day moving average price of $181.25 and a 200-day moving average price of $186.42. The company has a market capitalization of $356.64 billion, a P/E ratio of 84.18, a PEG ratio of 1.61 and a beta of 0.58. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.54 and a current ratio of 0.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the prior year, the company posted $2.79 EPS. As a group, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s payout ratio is currently 273.33%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ABBV shares. Truist Financial increased their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company increased their price target on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research report on Friday, November 22nd. Raymond James reiterated an “outperform” rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Finally, Morgan Stanley increased their price target on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

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.