Chevy Chase Trust Holdings LLC Has $150.79 Million Position in AbbVie Inc. (NYSE:ABBV)

Chevy Chase Trust Holdings LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,123,551 shares of the company’s stock after buying an additional 12,408 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.06% of AbbVie worth $150,793,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. Bradley & Co. Private Wealth Management LLC raised its position in shares of AbbVie by 80.6% in the 2nd quarter. Bradley & Co. Private Wealth Management LLC now owns 177 shares of the company’s stock worth $27,000 after acquiring an additional 79 shares in the last quarter. Activest Wealth Management bought a new position in shares of AbbVie in the 3rd quarter worth about $31,000. Heritage Wealth Management LLC bought a new position in shares of AbbVie in the 2nd quarter worth about $37,000. Paragon Wealth Strategies LLC bought a new stake in AbbVie in the 3rd quarter valued at about $51,000. Finally, Goodman Advisory Group LLC bought a new stake in AbbVie in the 2nd quarter valued at about $53,000. 67.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ABBV shares. Barclays decreased their target price on AbbVie from $160.00 to $155.00 and set an “equal weight” rating for the company in a research report on Monday, October 31st. StockNews.com started coverage on AbbVie in a research report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Atlantic Securities decreased their target price on AbbVie from $162.00 to $157.00 and set a “neutral” rating for the company in a research report on Monday, October 31st. Credit Suisse Group started coverage on AbbVie in a research report on Thursday, November 17th. They issued an “outperform” rating and a $170.00 target price for the company. Finally, Piper Sandler boosted their target price on AbbVie from $155.00 to $157.00 and gave the company an “overweight” rating in a research report on Tuesday, January 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $160.56.

AbbVie Trading Down 0.6 %

Shares of ABBV stock opened at $147.69 on Wednesday. The company’s fifty day simple moving average is $159.47 and its two-hundred day simple moving average is $149.22. The company has a debt-to-equity ratio of 3.77, a current ratio of 0.93 and a quick ratio of 0.83. AbbVie Inc. has a 1 year low of $130.79 and a 1 year high of $175.91. The stock has a market capitalization of $261.19 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 3.18 and a beta of 0.69.

AbbVie (NYSE:ABBV – Get Rating) last issued its earnings results on Friday, October 28th. The company reported $3.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.56 by $0.10. AbbVie had a net margin of 23.19% and a return on equity of 155.88%. The business had revenue of $14.81 billion for the quarter, compared to analysts’ expectations of $14.95 billion. During the same quarter in the previous year, the firm posted $3.33 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts anticipate that AbbVie Inc. will post 13.89 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 13th will be issued a $1.48 dividend. The ex-dividend date is Thursday, January 12th. This represents a $5.92 annualized dividend and a dividend yield of 4.01%. This is a boost from AbbVie’s previous quarterly dividend of $1.41. AbbVie’s dividend payout ratio is presently 79.04%.

Insider Transactions at AbbVie

In other news, EVP Timothy J. Richmond sold 42,370 shares of the company’s stock in a transaction on Monday, December 12th. The shares were sold at an average price of $163.44, for a total value of $6,924,952.80. Following the transaction, the executive vice president now owns 13,837 shares of the company’s stock, valued at $2,261,519.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.08% of the company’s stock.

AbbVie Company Profile

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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, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.