Artemis Investment Management LLP increased its position in AbbVie Inc. (NYSE:ABBV – Get Rating) by 4.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 500,271 shares of the company's stock after buying an additional 20,218 shares during the quarter. Artemis Investment Management LLP's holdings in AbbVie were worth $76,956,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Capital International Investors increased its position in AbbVie by 162.6% during the 1st quarter. Capital International Investors now owns 30,497,767 shares of the company's stock valued at $4,943,993,000 after purchasing an additional 18,882,699 shares during the period. Norges Bank purchased a new position in AbbVie during the 4th quarter valued at $2,433,269,000. Vanguard Group Inc. increased its position in AbbVie by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 150,518,780 shares of the company's stock valued at $24,400,600,000 after purchasing an additional 4,206,711 shares during the period. Arrowstreet Capital Limited Partnership increased its position in AbbVie by 426.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,652,122 shares of the company's stock valued at $754,155,000 after purchasing an additional 3,768,579 shares during the period. Finally, California Public Employees Retirement System increased its position in AbbVie by 37.6% during the 1st quarter. California Public Employees Retirement System now owns 5,414,949 shares of the company's stock valued at $877,817,000 after purchasing an additional 1,480,867 shares during the period. 68.25% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Performance

Shares of AbbVie stock opened at $134.21 on Monday. The stock has a market cap of $237.30 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 4.01 and a beta of 0.72. The firm's 50-day moving average is $141.00 and its 200 day moving average is $149.06. AbbVie Inc. has a 1 year low of $106.86 and a 1 year high of $175.91. The company has a debt-to-equity ratio of 4.15, a current ratio of 0.84 and a quick ratio of 0.75.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be paid a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend is Thursday, October 13th. AbbVie's dividend payout ratio is currently 79.89%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ABBV shares. Morgan Stanley reduced their price objective on shares of AbbVie from $191.00 to $188.00 and set an "overweight" rating on the stock in a research report on Monday, August 1st. Atlantic Securities reduced their target price on shares of AbbVie from $178.00 to $162.00 and set a "neutral" rating on the stock in a research report on Monday, August 1st. Argus reduced their target price on shares of AbbVie from $165.00 to $155.00 and set a "buy" rating on the stock in a research report on Wednesday, August 24th. Barclays reduced their target price on shares of AbbVie to $160.00 in a research report on Tuesday, August 9th. Finally, UBS Group reduced their target price on shares of AbbVie from $154.00 to $146.00 and set a "neutral" rating on the stock in a research report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and an average target price of $159.35.

About AbbVie

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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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