Groupama Asset Managment Purchases 38,974 Shares of AbbVie Inc. (NYSE:ABBV)

Groupama Asset Managment increased its position in AbbVie Inc. (NYSE:ABBV) by 40.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 135,749 shares of the company’s stock after acquiring an additional 38,974 shares during the period. Groupama Asset Managment’s holdings in AbbVie were worth $27,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. PGGM Investments lifted its position in AbbVie by 308.1% during the second quarter. PGGM Investments now owns 32,790 shares of the company’s stock valued at $5,624,000 after purchasing an additional 24,756 shares in the last quarter. Oak Ridge Investments LLC bought a new position in shares of AbbVie during the 2nd quarter valued at approximately $213,000. AdvisorNet Financial Inc increased its holdings in AbbVie by 5.3% in the 2nd quarter. AdvisorNet Financial Inc now owns 4,766 shares of the company’s stock worth $818,000 after acquiring an additional 242 shares in the last quarter. Country Club Bank raised its stake in AbbVie by 5.6% during the 2nd quarter. Country Club Bank now owns 10,070 shares of the company’s stock worth $1,702,000 after acquiring an additional 532 shares during the period. Finally, Baader Bank Aktiengesellschaft purchased a new position in AbbVie during the second quarter valued at approximately $224,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of several recent analyst reports. TD Cowen raised their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Sanford C. Bernstein started coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. UBS Group boosted their price target on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, William Blair raised shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $202.19.

AbbVie Stock Performance

AbbVie stock opened at $175.76 on Wednesday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a 50 day moving average price of $186.35 and a 200-day moving average price of $182.67. The company has a market capitalization of $310.59 billion, a PE ratio of 61.03, a P/E/G ratio of 2.01 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $150.16 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same period in the prior year, the business earned $2.95 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts forecast that AbbVie Inc. will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.73%. AbbVie’s dividend payout ratio (DPR) is currently 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.