Banco Santander S.A. Has $12.75 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Banco Santander S.A. lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 36.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,537 shares of the company’s stock after selling 37,732 shares during the period. Banco Santander S.A.’s holdings in AbbVie were worth $12,745,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in shares of AbbVie by 5.1% during the third quarter. Pacer Advisors Inc. now owns 391,915 shares of the company’s stock worth $77,395,000 after buying an additional 19,025 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in 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 acquiring an additional 373,802 shares during the period. Integrated Investment Consultants LLC raised its stake in AbbVie by 2,338.6% in the 3rd quarter. Integrated Investment Consultants LLC now owns 169,189 shares of the company’s stock worth $33,411,000 after purchasing an additional 162,251 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its holdings in AbbVie by 1.0% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 73,339 shares of the company’s stock valued at $14,483,000 after purchasing an additional 710 shares during the period. Finally, LPL Financial LLC grew its position in shares of AbbVie by 3.6% during the 3rd quarter. LPL Financial LLC now owns 2,657,804 shares of the company’s stock worth $524,863,000 after purchasing an additional 92,492 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several recent research reports. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Wolfe Research assumed coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. Morgan Stanley dropped their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research note on Monday, August 5th. Finally, Piper Sandler boosted their target price on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $203.37.

AbbVie Trading Down 0.2 %

ABBV opened at $167.45 on Thursday. The company’s 50 day moving average price is $190.25 and its two-hundred day moving average price is $181.01. The firm has a market capitalization of $295.91 billion, a price-to-earnings ratio of 58.24, a PEG ratio of 2.03 and a beta of 0.63. AbbVie Inc. has a fifty-two week low of $137.65 and a fifty-two week high of $207.32. 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 announced its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.95 EPS. As a group, research analysts predict that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is currently 215.28%.

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.