IndexIQ Advisors LLC Grows Stock Holdings in AbbVie Inc. (NYSE:ABBV)

IndexIQ Advisors LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,209 shares of the company’s stock after buying an additional 1,521 shares during the period. IndexIQ Advisors LLC’s holdings in AbbVie were worth $3,259,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OLD Mission Capital LLC purchased a new position in AbbVie during the 3rd quarter valued at about $242,000. Camden National Bank boosted its position in shares of AbbVie by 2.3% during the fourth quarter. Camden National Bank now owns 10,924 shares of the company’s stock valued at $1,171,000 after purchasing an additional 245 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of AbbVie by 12.8% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 326,875 shares of the company’s stock valued at $36,819,000 after buying an additional 36,981 shares in the last quarter. Isthmus Partners LLC purchased a new position in AbbVie during the 2nd quarter valued at about $183,000. Finally, Dynamic Advisor Solutions LLC lifted its holdings in shares of AbbVie by 28.3% during the second quarter. Dynamic Advisor Solutions LLC now owns 26,201 shares of the company’s stock valued at $2,951,000 after purchasing an additional 5,772 shares during the last quarter. Hedge funds and other institutional investors own 65.36% of the company’s stock.

ABBV has been the subject of several research reports. SVB Leerink reissued a “buy” rating on shares of AbbVie in a report on Tuesday, December 7th. Morgan Stanley boosted their target price on shares of AbbVie from $116.00 to $124.00 and gave the company an “overweight” rating in a research report on Monday, November 1st. Societe Generale upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Tuesday, November 23rd. Redburn Partners initiated coverage on shares of AbbVie in a research report on Thursday. They issued a “buy” rating for the company. Finally, Piper Sandler upped their price target on shares of AbbVie from $129.00 to $160.00 in a research report on Monday, January 3rd. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $136.50.

In other news, VP Brian L. Durkin sold 11,790 shares of AbbVie stock in a transaction on Monday, December 20th. The stock was sold at an average price of $128.51, for a total transaction of $1,515,132.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Timothy J. Richmond sold 50,350 shares of AbbVie stock in a transaction on Monday, December 6th. The stock was sold at an average price of $120.00, for a total value of $6,042,000.00. The disclosure for this sale can be found here. Insiders sold a total of 478,364 shares of company stock worth $59,793,977 in the last three months. 0.09% of the stock is owned by corporate insiders.

ABBV traded up $0.07 during trading on Friday, reaching $133.59. 103,350 shares of the company’s stock were exchanged, compared to its average volume of 6,523,579. AbbVie Inc. has a 1 year low of $101.81 and a 1 year high of $138.15. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.01 and a quick ratio of 0.91. The stock has a market capitalization of $236.08 billion, a P/E ratio of 31.79, a price-to-earnings-growth ratio of 2.07 and a beta of 0.86. The company’s fifty day simple moving average is $125.40 and its 200-day simple moving average is $117.43.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, October 28th. The company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.11. The business had revenue of $14.34 billion for the quarter, compared to analysts’ expectations of $14.30 billion. AbbVie had a net margin of 13.66% and a return on equity of 166.05%. The business’s revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company earned $2.83 EPS. Equities analysts forecast that AbbVie Inc. will post 12.68 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 15th. Investors of record on Friday, January 14th will be paid a $1.41 dividend. The ex-dividend date of this dividend is Thursday, January 13th. This represents a $5.64 dividend on an annualized basis and a yield of 4.22%. This is a boost from AbbVie’s previous quarterly dividend of $1.30. AbbVie’s dividend payout ratio (DPR) is currently 123.81%.

AbbVie Profile

AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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