Todd Asset Management LLC Has $38.10 Million Position in AbbVie Inc. (NYSE:ABBV)

Todd Asset Management LLC lowered its position in AbbVie Inc. (NYSE:ABBV) by 15.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 245,850 shares of the company’s stock after selling 43,417 shares during the quarter. Todd Asset Management LLC’s holdings in AbbVie were worth $38,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its position in shares of AbbVie by 29,922.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company’s stock worth $899,186,000 after purchasing an additional 6,012,281 shares during the period. International Assets Investment Management LLC bought a new stake in AbbVie during the fourth quarter valued at $499,955,000. Vanguard Group Inc. grew its holdings in AbbVie by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after acquiring an additional 1,450,089 shares during the period. Assenagon Asset Management S.A. raised its position in shares of AbbVie by 201.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,143,910 shares of the company’s stock worth $332,242,000 after acquiring an additional 1,433,236 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of AbbVie by 34.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,397,309 shares of the company’s stock valued at $655,463,000 after purchasing an additional 1,130,638 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock traded up $2.98 during trading on Friday, reaching $163.79. 5,850,102 shares of the company’s stock traded hands, compared to its average volume of 5,457,836. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. The company has a market capitalization of $290.01 billion, a P/E ratio of 48.60, a PEG ratio of 2.07 and a beta of 0.61. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The firm’s 50-day moving average is $173.13 and its 200 day moving average is $161.22.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the company earned $2.46 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts expect that AbbVie Inc. will post 11.29 EPS for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.79%. AbbVie’s payout ratio is currently 183.98%.

Analysts Set New Price Targets

Several brokerages have issued reports on ABBV. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. BMO Capital Markets decreased their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Guggenheim increased their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Truist Financial boosted their price objective on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Finally, Raymond James increased their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.31.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Scott T. Reents sold 14,140 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $177.44, for a total value of $2,509,001.60. Following the transaction, the chief financial officer now owns 27,065 shares in the company, valued at $4,802,413.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 383,324 shares of company stock worth $67,780,003. Corporate insiders own 0.25% of the company’s stock.

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.