Dimensional Fund Advisors LP Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

Dimensional Fund Advisors LP grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,367,162 shares of the company’s stock after purchasing an additional 108,993 shares during the quarter. AbbVie makes up approximately 0.4% of Dimensional Fund Advisors LP’s investment portfolio, making the stock its 22nd largest position. Dimensional Fund Advisors LP’s holdings in AbbVie were worth $1,664,489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ABBV. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie in the 4th quarter worth approximately $29,000. EnRich Financial Partners LLC increased its holdings in shares of AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC acquired a new position in AbbVie during the fourth quarter worth $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie during the fourth quarter worth about $31,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie during the 4th quarter valued at approximately $32,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

ABBV opened at $172.78 on Friday. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The firm has a market cap of $305.64 billion, a price-to-earnings ratio of 71.99, a PEG ratio of 1.62 and a beta of 0.55. The stock’s 50 day simple moving average is $198.47 and its 200 day simple moving average is $187.82.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period in the prior year, the company posted $2.79 EPS. As a group, analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

Insiders Place Their Bets

In other news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. The trade was a 20.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,471 shares of company stock valued at $23,426,451. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research reports. StockNews.com cut AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 9th. UBS Group increased their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Bank of America raised their target price on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $210.71.

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.