Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 4.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 8,946 shares of the company’s stock after purchasing an additional 413 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in AbbVie were worth $784,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ABBV. Morgan Stanley grew its position in AbbVie by 6.9% during the 1st quarter. Morgan Stanley now owns 10,756,410 shares of the company’s stock worth $819,530,000 after acquiring an additional 696,233 shares during the last quarter. Aptus Capital Advisors LLC raised its stake in shares of AbbVie by 5.8% in the 2nd quarter. Aptus Capital Advisors LLC now owns 29,297 shares of the company’s stock valued at $2,876,000 after purchasing an additional 1,608 shares during the period. LexAurum Advisors LLC raised its stake in shares of AbbVie by 15.9% in the 2nd quarter. LexAurum Advisors LLC now owns 4,033 shares of the company’s stock valued at $396,000 after purchasing an additional 552 shares during the period. Mengis Capital Management Inc. raised its stake in shares of AbbVie by 31.8% in the 2nd quarter. Mengis Capital Management Inc. now owns 9,133 shares of the company’s stock valued at $896,000 after purchasing an additional 2,203 shares during the period. Finally, Granite Investment Advisors LLC bought a new position in shares of AbbVie in the 2nd quarter valued at about $236,000. 64.15% of the stock is owned by hedge funds and other institutional investors.

NYSE ABBV opened at $100.84 on Friday. The firm’s fifty day moving average price is $89.21 and its two-hundred day moving average price is $92.30. The stock has a market cap of $178.03 billion, a PE ratio of 21.32, a PEG ratio of 1.60 and a beta of 0.72. AbbVie Inc. has a fifty-two week low of $62.55 and a fifty-two week high of $101.83. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.81 and a current ratio of 0.95.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, October 30th. The company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $0.08. AbbVie had a net margin of 18.16% and a return on equity of 439.24%. The firm had revenue of $12.88 billion for the quarter, compared to analysts’ expectations of $12.71 billion. During the same quarter in the previous year, the firm posted $2.33 earnings per share. The company’s revenue was up 51.9% on a year-over-year basis. As a group, sell-side analysts predict that AbbVie Inc. will post 10.48 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 16th. Investors of record on Friday, January 15th will be paid a $1.30 dividend. This is a boost from AbbVie’s previous quarterly dividend of $1.18. The ex-dividend date is Thursday, January 14th. This represents a $5.20 annualized dividend and a dividend yield of 5.16%. AbbVie’s payout ratio is currently 52.80%.

A number of equities analysts recently commented on the company. SVB Leerink reduced their price target on AbbVie from $122.00 to $119.00 and set an “outperform” rating for the company in a report on Monday, November 2nd. Mizuho reiterated a “buy” rating and issued a $111.00 price target on shares of AbbVie in a research report on Sunday, September 27th. Berenberg Bank started coverage on shares of AbbVie in a research report on Tuesday, September 29th. They issued a “hold” rating and a $98.00 price target for the company. Royal Bank of Canada boosted their price objective on shares of AbbVie from $125.00 to $127.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Finally, The Goldman Sachs Group downgraded shares of AbbVie from a “neutral” rating to a “sell” rating in a research report on Tuesday, October 20th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $111.00.

In related news, CEO Richard A. Gonzalez sold 231,604 shares of the business’s stock in a transaction on Thursday, November 12th. The shares were sold at an average price of $96.88, for a total value of $22,437,795.52. Insiders own 0.09% of the company’s stock.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

See Also: Hedge Funds – Risk or Reward?

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.