Mizuho Securities USA LLC Sells 21,611 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Markets Daily

Mizuho Securities USA LLC lessened its stake in AbbVie Inc. (NYSE:ABBV – Free Report) by 15.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,538 shares of the company’s stock after selling 21,611 shares during the quarter. AbbVie comprises about 0.5% of Mizuho Securities USA LLC’s investment portfolio, making the stock its 26th largest holding. Mizuho Securities USA LLC’s holdings in AbbVie were worth $22,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its holdings in shares of AbbVie by 1,745.0% in the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after acquiring an additional 4,471,806 shares in the last quarter. Capital World Investors increased its holdings in shares of AbbVie by 249.1% in the first quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock worth $796,357,000 after acquiring an additional 3,120,310 shares in the last quarter. Swedbank AB bought a new stake in shares of AbbVie in the first quarter worth about $367,372,000. Price T Rowe Associates Inc. MD increased its holdings in shares of AbbVie by 13.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,744,190 shares of the company’s stock worth $1,956,518,000 after acquiring an additional 1,291,201 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of AbbVie by 12.8% in the first quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock worth $1,984,490,000 after acquiring an additional 1,240,434 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Sanford C. Bernstein assumed coverage on AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target for the company. Piper Sandler increased their price objective on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. William Blair upgraded AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Citigroup decreased their price objective on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, Bank of America increased their price objective on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $203.37.

Check Out Our Latest Research Report on ABBV

AbbVie Trading Up 0.7 %

Shares of ABBV opened at $167.74 on Thursday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a 52-week low of $137.65 and a 52-week high of $207.32. The firm has a market cap of $296.42 billion, a price-to-earnings ratio of 58.24, a PEG ratio of 2.03 and a beta of 0.63. The business’s fifty day moving average is $190.25 and its 200-day moving average is $181.01.

AbbVie (NYSE:ABBV – Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter last year, the business posted $2.95 EPS. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts anticipate that AbbVie Inc. will post 10.95 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.91%. AbbVie’s dividend payout ratio (DPR) is 215.28%.

AbbVie Profile

(Free Report)

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.

Further Reading

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