Mutual of America Capital Management LLC Acquires 1,365 Shares of AbbVie Inc. (NYSE:ABBV)

Mutual of America Capital Management LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 0.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 252,775 shares of the company’s stock after purchasing an additional 1,365 shares during the period. Mutual of America Capital Management LLC’s holdings in AbbVie were worth $27,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the company. Core Alternative Capital acquired a new position in AbbVie during the 3rd quarter worth about $28,000. Penserra Capital Management LLC acquired a new position in AbbVie during the 2nd quarter worth about $38,000. Heritage Wealth Management LLC lifted its position in AbbVie by 294.3% during the 2nd quarter. Heritage Wealth Management LLC now owns 343 shares of the company’s stock worth $39,000 after buying an additional 256 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in AbbVie during the 2nd quarter worth about $39,000. Finally, Mizuho Securities Co. Ltd. lifted its position in AbbVie by 530.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 441 shares of the company’s stock worth $48,000 after buying an additional 371 shares in the last quarter. Institutional investors own 65.36% of the company’s stock.

In other news, EVP Jeffrey Ryan Stewart sold 2,152 shares of the business’s stock in a transaction dated Wednesday, December 15th. The shares were sold at an average price of $128.00, for a total transaction of $275,456.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Brian L. Durkin sold 11,790 shares of the company’s stock in a transaction dated Monday, December 20th. The shares were sold at an average price of $128.51, for a total transaction of $1,515,132.90. The disclosure for this sale can be found here. Insiders have sold a total of 478,364 shares of company stock worth $59,793,977 over the last 90 days. 0.09% of the stock is owned by company insiders.

ABBV has been the topic of a number of research reports. Societe Generale upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Tuesday, November 23rd. The Goldman Sachs Group initiated coverage on shares of AbbVie in a report on Friday, December 17th. They set a “neutral” rating and a $113.00 target price for the company. Redburn Partners initiated coverage on shares of AbbVie in a report on Thursday. They set a “buy” rating for the company. Mizuho lifted their target price on shares of AbbVie from $132.00 to $154.00 and gave the stock a “buy” rating in a report on Wednesday, January 5th. Finally, Morgan Stanley lifted their price target on shares of AbbVie from $116.00 to $124.00 and gave the stock an “overweight” rating in a research report on Monday, November 1st. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $136.50.

NYSE:ABBV traded up $0.17 on Friday, hitting $133.69. 172,547 shares of the company’s stock were exchanged, compared to its average volume of 6,523,579. The firm has a 50-day moving average price of $125.40 and a 200-day moving average price of $117.43. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.01 and a quick ratio of 0.91. AbbVie Inc. has a 52 week low of $101.81 and a 52 week high of $138.15. The company has a market cap of $236.25 billion, a P/E ratio of 31.79, a price-to-earnings-growth ratio of 2.07 and a beta of 0.86.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, October 28th. The company reported $3.33 EPS for the quarter, topping the consensus estimate of $3.22 by $0.11. AbbVie had a net margin of 13.66% and a return on equity of 166.05%. The firm had revenue of $14.34 billion for the quarter, compared to analysts’ expectations of $14.30 billion. During the same period in the previous year, the firm posted $2.83 EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, research analysts expect that AbbVie Inc. will post 12.68 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 15th. Stockholders of record on Friday, January 14th will be paid a dividend of $1.41 per share. The ex-dividend date is Thursday, January 13th. This is a positive change from AbbVie’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a dividend yield of 4.22%. AbbVie’s payout ratio is currently 123.81%.

AbbVie Company Profile

AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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