Charles Schwab Investment Management Inc. Has $3.77 Billion Stock Position in AbbVie Inc. (NYSE:ABBV)

Charles Schwab Investment Management Inc. lifted its stake in AbbVie Inc. (NYSE:ABBV) by 7.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,451,975 shares of the company’s stock after acquiring an additional 1,702,415 shares during the quarter. AbbVie makes up approximately 1.0% of Charles Schwab Investment Management Inc.’s investment portfolio, making the stock its 12th largest position. Charles Schwab Investment Management Inc. owned approximately 1.36% of AbbVie worth $3,774,569,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ABBV. Aspen Wealth Strategies LLC grew its stake in shares of AbbVie by 0.5% during the fourth quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after acquiring an additional 61 shares during the last quarter. Marks Group Wealth Management Inc lifted its stake in shares of AbbVie by 2.9% during the fourth quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after buying an additional 63 shares during the period. Avion Wealth grew its holdings in shares of AbbVie by 11.9% during the fourth quarter. Avion Wealth now owns 612 shares of the company’s stock valued at $95,000 after buying an additional 65 shares during the last quarter. White Pine Capital LLC increased its position in shares of AbbVie by 1.2% in the 4th quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock valued at $852,000 after acquiring an additional 65 shares during the period. Finally, First Bank & Trust lifted its position in AbbVie by 0.4% during the 4th quarter. First Bank & Trust now owns 18,125 shares of the company’s stock worth $2,809,000 after acquiring an additional 68 shares during the period. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the completion of the sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the transaction, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the sale, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The disclosure for this sale can be found here. Insiders sold 383,324 shares of company stock worth $67,780,003 over the last 90 days. 0.25% of the stock is owned by insiders.

AbbVie Stock Down 1.4 %

Shares of ABBV traded down $2.22 during mid-day trading on Wednesday, hitting $160.33. 1,839,341 shares of the company’s stock were exchanged, compared to its average volume of 5,616,276. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. The company has a market cap of $283.89 billion, a price-to-earnings ratio of 47.55, a P/E/G ratio of 2.07 and a beta of 0.61. The stock’s 50-day moving average is $172.48 and its 200-day moving average is $161.62. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.46 earnings per share. On average, sell-side analysts anticipate that AbbVie Inc. will post 11.29 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors 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 yield of 3.87%. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Analyst Ratings Changes

ABBV has been the topic of several recent research reports. Truist Financial upped their price objective on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. BMO Capital Markets lowered their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Barclays lowered their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Finally, Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.31.

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.