Mawer Investment Management Ltd. Has $54.37 Million Stake in AbbVie Inc. (NYSE:ABBV)

Mawer Investment Management Ltd. trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 275,336 shares of the company’s stock after selling 14,746 shares during the quarter. Mawer Investment Management Ltd.’s holdings in AbbVie were worth $54,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in ABBV. China Universal Asset Management Co. Ltd. acquired a new position in shares of AbbVie during the first quarter worth approximately $646,000. Quent Capital LLC lifted its stake in shares of AbbVie by 3.3% during the first quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock valued at $1,592,000 after acquiring an additional 283 shares during the period. PAX Financial Group LLC acquired a new position in AbbVie in the first quarter valued at about $217,000. Seven Eight Capital LP acquired a new position in AbbVie in the first quarter valued at about $576,000. Finally, PYA Waltman Capital LLC increased its holdings in shares of AbbVie by 1.8% in the first quarter. PYA Waltman Capital LLC now owns 16,088 shares of the company’s stock worth $2,930,000 after acquiring an additional 282 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

ABBV stock traded up $0.11 during midday trading on Monday, reaching $165.10. 251,770 shares of the stock were exchanged, compared to its average volume of 5,446,393. The stock has a market capitalization of $291.75 billion, a PE ratio of 57.29, a P/E/G ratio of 2.01 and a beta of 0.63. AbbVie Inc. has a 52 week low of $137.14 and a 52 week high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The company has a fifty day moving average price of $192.04 and a 200 day moving average price of $181.04.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.95 EPS. As a group, analysts expect that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.97%. AbbVie’s dividend payout ratio is 215.28%.

Analyst Ratings Changes

A number of research firms have weighed in on ABBV. Sanford C. Bernstein began coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target for the company. UBS Group raised their price target on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research note on Monday, August 5th. Morgan Stanley decreased their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Finally, Wolfe Research started coverage on AbbVie in a research report on Friday. They issued an “outperform” rating and a $205.00 price objective for the company. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $203.89.

About AbbVie

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.