KCM Investment Advisors LLC Purchases 981 Shares of AbbVie Inc. (NYSE:ABBV)

KCM Investment Advisors LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 78,792 shares of the company’s stock after acquiring an additional 981 shares during the quarter. KCM Investment Advisors LLC’s holdings in AbbVie were worth $15,560,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of AbbVie by 6.2% in the 1st 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 in the last quarter. International Assets Investment Management LLC raised its holdings in AbbVie by 1,745.0% in the 3rd 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 during the last quarter. Capital World Investors raised its holdings in AbbVie by 249.1% in the 1st 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 during the last quarter. Capital International Investors raised its holdings in AbbVie by 6.9% in the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after acquiring an additional 3,110,601 shares during the last quarter. Finally, Swedbank AB purchased a new position in AbbVie in the 1st quarter worth approximately $367,372,000. 70.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ABBV shares. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Barclays raised their price target on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Bank of America raised their price target on AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Morgan Stanley decreased their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. cut their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.89.

AbbVie Stock Down 1.7 %

NYSE ABBV traded down $2.87 on Friday, hitting $166.76. The stock had a trading volume of 2,222,679 shares, compared to its average volume of 5,429,060. The business’s fifty day moving average price is $192.62 and its 200 day moving average price is $180.76. 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 Inc. has a 52-week low of $137.05 and a 52-week high of $207.32. The stock has a market cap of $294.69 billion, a price-to-earnings ratio of 57.99, a price-to-earnings-growth ratio of 2.07 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. 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 company earned $2.95 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.93%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio is 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.