Diversified Trust Co Has $7.44 Million Stake in AbbVie Inc. (NYSE:ABBV)

Diversified Trust Co grew its position in AbbVie Inc. (NYSE:ABBV) by 4.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,870 shares of the company’s stock after buying an additional 1,904 shares during the quarter. Diversified Trust Co’s holdings in AbbVie were worth $7,440,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Fairway Wealth LLC acquired a new position in AbbVie during the 2nd quarter worth approximately $26,000. Groupama Asset Managment increased its holdings in shares of AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie during the third quarter worth $28,000. Quest Partners LLC lifted its stake in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares during the last quarter. Finally, Marquette Asset Management LLC acquired a new stake in shares of AbbVie during the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 0.2 %

Shares of ABBV traded down $0.36 during trading hours on Tuesday, hitting $179.74. The stock had a trading volume of 1,716,065 shares, compared to its average volume of 4,101,503. The firm has a 50 day simple moving average of $180.20 and a 200-day simple moving average of $184.36. The firm has a market capitalization of $317.63 billion, a P/E ratio of 62.41, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. 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 1-year low of $153.58 and a 1-year high of $207.32.

AbbVie (NYSE:ABBV) last released 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 last year, the firm earned $2.95 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 10.96 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $1.64 dividend. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.65%. AbbVie’s dividend payout ratio is 227.78%.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The shares were 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 owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on ABBV shares. Wells Fargo & Company increased their target price on AbbVie to $195.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Wolfe Research began coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. TD Cowen lifted their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Barclays upped their price target on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Sanford C. Bernstein began coverage on shares of AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.70.

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.