AbbVie Inc. (NYSE:ABBV) is Federated Hermes Inc.’s 9th Largest Position

Federated Hermes Inc. increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 37.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,566,922 shares of the company’s stock after purchasing an additional 697,643 shares during the period. AbbVie accounts for 1.0% of Federated Hermes Inc.’s holdings, making the stock its 9th biggest holding. Federated Hermes Inc.’s holdings in AbbVie were worth $456,142,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Waterloo Capital L.P. boosted its holdings in shares of AbbVie by 2.0% in the 4th quarter. Waterloo Capital L.P. now owns 15,375 shares of the company’s stock valued at $2,732,000 after buying an additional 307 shares in the last quarter. Titleist Asset Management LLC lifted its position in AbbVie by 24.8% during the fourth quarter. Titleist Asset Management LLC now owns 1,519 shares of the company’s stock valued at $270,000 after acquiring an additional 302 shares during the last quarter. Darden Wealth Group Inc boosted its stake in AbbVie by 2.1% in the fourth quarter. Darden Wealth Group Inc now owns 4,832 shares of the company’s stock valued at $859,000 after acquiring an additional 100 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co grew its holdings in AbbVie by 29.7% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 277,500 shares of the company’s stock worth $49,312,000 after purchasing an additional 63,500 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of AbbVie by 3.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,189,286 shares of the company’s stock worth $211,257,000 after purchasing an additional 38,684 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at $11,183,398.72. The trade was a 52.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,471 shares of company stock valued at $23,426,451. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Piper Sandler boosted their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Morgan Stanley increased their price objective on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. BMO Capital Markets boosted their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company lifted their price objective on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.45.

AbbVie Stock Performance

ABBV opened at $186.58 on Friday. The firm has a fifty day moving average price of $200.61 and a 200 day moving average price of $189.21. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The stock has a market cap of $330.06 billion, a P/E ratio of 77.74, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 period in the previous year, the business posted $2.79 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.52%. AbbVie’s dividend payout ratio (DPR) is 273.33%.

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.