Meiji Yasuda Life Insurance Co Has $3.76 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Meiji Yasuda Life Insurance Co decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 67.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 21,947 shares of the company’s stock after selling 45,074 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in AbbVie were worth $3,764,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Vermillion & White Wealth Management Group LLC bought a new stake in shares of AbbVie in the fourth quarter valued at approximately $26,000. Fairway Wealth LLC acquired a new position in AbbVie in the 2nd quarter valued at $26,000. Ridgewood Investments LLC bought a new stake in shares of AbbVie during the 2nd quarter valued at $27,000. Able Wealth Management LLC acquired a new stake in shares of AbbVie during the 4th quarter worth $33,000. Finally, IFS Advisors LLC bought a new position in shares of AbbVie in the first quarter worth $36,000. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ABBV shares. Morgan Stanley upped their price objective on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research note on Wednesday, June 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. Finally, Piper Sandler Companies reiterated an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a research note on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie has an average rating of “Buy” and a consensus price target of $191.64.

Insider Activity

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

AbbVie stock opened at $193.50 on Wednesday. The business has a 50 day moving average of $187.92 and a 200-day moving average of $175.46. The company has a market capitalization of $341.70 billion, a P/E ratio of 57.42, a P/E/G ratio of 2.66 and a beta of 0.64. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same period in the prior year, the company posted $2.91 EPS. The company’s revenue was up 4.3% on a year-over-year basis. On average, equities research analysts predict that AbbVie Inc. will post 10.86 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.20%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

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.