BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $58.19 Million Holdings in AbbVie Inc. (NYSE:ABBV)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 13.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 294,644 shares of the company’s stock after selling 44,511 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in AbbVie were worth $58,186,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC bought a new position in shares of AbbVie during the 2nd quarter worth about $26,000. Ridgewood Investments LLC bought a new stake in shares of AbbVie in the second quarter worth about $27,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of AbbVie during the third quarter worth about $28,000. Quest Partners LLC lifted its holdings in shares of AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares in the last quarter. Finally, Marquette Asset Management LLC bought a new stake in AbbVie during the 3rd quarter worth approximately $39,000. 70.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ABBV has been the topic of a number of research reports. Guggenheim lifted their price target on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Sanford C. Bernstein initiated coverage on AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. Wolfe Research assumed coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target for the company. Finally, Truist Financial raised their price objective on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $203.50.

AbbVie Stock Down 0.1 %

Shares of NYSE:ABBV opened at $182.93 on Friday. The company has a market cap of $323.26 billion, a price-to-earnings ratio of 63.52, a PEG ratio of 2.09 and a beta of 0.63. AbbVie Inc. has a one year low of $138.01 and a one year high of $207.32. The firm has a fifty day moving average price of $188.23 and a two-hundred day moving average price of $181.75. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the previous year, the company posted $2.95 EPS. AbbVie’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Wednesday, January 15th. AbbVie’s dividend payout ratio is currently 227.78%.

AbbVie Company 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.