AbbVie Inc. $ABBV Shares Purchased by Sava Infond d.o.o.

Key Points

• Sava Infond d.o.o. increased its holdings in AbbVie by 11.4% during the second quarter, owning a total of 11,716 shares valued at approximately $2,175,000.
• AbbVie has recently been rated by various analysts with target prices ranging from $205.00 to $251.00, and currently has an average rating of "Moderate Buy" with a target price of $228.22.
• The company announced a quarterly dividend of $1.64 per share, representing an annualized yield of 2.8%, with the ex-dividend date set for October 15th.

Sava Infond d.o.o. raised its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 11.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,716 shares of the company's stock after buying an additional 1,200 shares during the quarter. Sava Infond d.o.o.'s holdings in AbbVie were worth $2,175,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Nuveen LLC bought a new position in shares of AbbVie during the first quarter valued at approximately $1,819,154,000. Assenagon Asset Management S.A. grew its holdings in shares of AbbVie by 550.9% during the second quarter. Assenagon Asset Management S.A. now owns 4,332,054 shares of the company's stock valued at $804,116,000 after purchasing an additional 3,666,521 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of AbbVie by 31.6% during the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company's stock valued at $3,068,820,000 after purchasing an additional 3,519,187 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of AbbVie during the second quarter valued at approximately $581,817,000. Finally, Bessemer Group Inc. grew its holdings in shares of AbbVie by 147.6% during the first quarter. Bessemer Group Inc. now owns 2,752,953 shares of the company's stock valued at $576,800,000 after purchasing an additional 1,641,091 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ABBV. Citigroup upped their target price on AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AbbVie in a report on Saturday, September 27th. Bank of America upped their target price on AbbVie from $220.00 to $251.00 and gave the company a "neutral" rating in a report on Friday. Daiwa Capital Markets raised AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 target price for the company in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. increased their price objective on AbbVie from $200.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and an average target price of $228.22.

AbbVie Stock Performance

Shares of ABBV stock opened at $234.07 on Friday. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $244.81. The firm has a market capitalization of $413.49 billion, a price-to-earnings ratio of 111.46, a price-to-earnings-growth ratio of 1.38 and a beta of 0.51. The business has a 50 day simple moving average of $210.77 and a 200 day simple moving average of $196.01. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). The firm had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business's revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the company earned $2.65 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie's dividend payout ratio is 312.38%.

Insider Buying and Selling

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the sale, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the sale, the executive vice president owned 58,247 shares of the company's stock, valued at $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company's stock.

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.

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