Forvis Mazars Wealth Advisors LLC Has $3.07 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Forvis Mazars Wealth Advisors LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,267 shares of the company’s stock after acquiring an additional 230 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in AbbVie were worth $3,068,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after purchasing an additional 1,267,685 shares during the last quarter. FMR LLC lifted its stake in AbbVie by 3.9% in the 3rd quarter. FMR LLC now owns 13,630,404 shares of the company’s stock valued at $2,691,732,000 after purchasing an additional 511,470 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in AbbVie by 6.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after buying an additional 582,953 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of AbbVie by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock worth $1,842,642,000 after buying an additional 373,802 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of AbbVie by 1.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,119,235 shares of the company’s stock valued at $813,467,000 after acquiring an additional 38,854 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.

AbbVie Stock Performance

ABBV opened at $202.03 on Monday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The company has a market cap of $356.65 billion, a price-to-earnings ratio of 84.18, a PEG ratio of 1.61 and a beta of 0.58. The company’s fifty day moving average price is $181.25 and its two-hundred day moving average price is $186.41. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 17.94.

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

AbbVie Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.25%. AbbVie’s dividend payout ratio is presently 273.33%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ABBV. Piper Sandler boosted their price objective on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. UBS Group boosted their price target on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a report on Thursday, December 5th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $208.35.

About AbbVie

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.