Mn Services Vermogensbeheer B.V. Reduces Position in AbbVie Inc. (NYSE:ABBV)

Mn Services Vermogensbeheer B.V. lessened its stake in AbbVie Inc. (NYSE:ABBV) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 684,204 shares of the company’s stock after selling 13,600 shares during the period. AbbVie makes up approximately 0.9% of Mn Services Vermogensbeheer B.V.’s holdings, making the stock its 17th largest position. Mn Services Vermogensbeheer B.V.’s holdings in AbbVie were worth $135,117,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of AbbVie by 6.2% in the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after purchasing an additional 9,978,415 shares during the period. Capital International Investors lifted its stake in shares of AbbVie by 6.9% during the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock valued at $8,758,789,000 after buying an additional 3,110,601 shares in the last quarter. Capital Research Global Investors boosted its holdings in AbbVie by 3.3% in the 1st quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock worth $5,698,847,000 after buying an additional 992,496 shares during the period. Legal & General Group Plc lifted its position in shares of AbbVie by 0.9% in the second quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock valued at $2,620,382,000 after acquiring an additional 134,239 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of AbbVie by 12.8% during the first quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock worth $1,984,490,000 after purchasing an additional 1,240,434 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV stock traded down $1.62 on Monday, reaching $201.93. 597,621 shares of the company were exchanged, compared to its average volume of 5,307,185. The company has a market cap of $356.68 billion, a price-to-earnings ratio of 70.68, a P/E/G ratio of 2.78 and a beta of 0.63. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $207.32. The business has a 50-day moving average price of $194.12 and a 200 day moving average price of $179.60. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same period in the prior year, the business earned $2.95 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current fiscal 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 issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.25%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. AbbVie’s payout ratio is presently 215.28%.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several research reports. Truist Financial increased their price objective on shares of AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company increased their target price on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Barclays boosted their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Bank of America boosted their price objective on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, BMO Capital Markets boosted their target price on AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $201.00.

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.