AbbVie Inc. $ABBV Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

BI Asset Management Fondsmaeglerselskab A S reduced its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 14.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 402,986 shares of the company's stock after selling 69,718 shares during the quarter. AbbVie makes up approximately 1.0% of BI Asset Management Fondsmaeglerselskab A S's investment portfolio, making the stock its 18th largest position. BI Asset Management Fondsmaeglerselskab A S's holdings in AbbVie were worth $84,434,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of ABBV. GAMMA Investing LLC lifted its stake in shares of AbbVie by 25,841.6% in the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock valued at $2,144,382,000 after purchasing an additional 10,195,284 shares during the last quarter. Nuveen LLC acquired a new position in shares of AbbVie in the 1st quarter valued at $1,819,154,000. Goldman Sachs Group Inc. lifted its stake in shares of AbbVie by 31.6% in the 1st 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. Northern Trust Corp lifted its stake in shares of AbbVie by 11.8% in the 4th quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock valued at $3,878,236,000 after purchasing an additional 2,299,645 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of AbbVie by 27.4% in the 4th quarter. Deutsche Bank AG now owns 9,769,102 shares of the company's stock valued at $1,735,969,000 after purchasing an additional 2,102,273 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Insider Transactions at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were 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 directly owned 58,247 shares of the company's stock, valued at $11,562,611.97. The trade was 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.

Analyst Upgrades and Downgrades

ABBV has been the topic of several recent analyst reports. BNP Paribas raised AbbVie to a "hold" rating in a research note on Thursday, May 8th. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Daiwa America raised AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. Bank of America increased their target price on AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Finally, Morgan Stanley increased their target price on AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Five research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $214.95.

AbbVie Stock Up 0.4%

NYSE ABBV traded up $0.7840 during trading hours on Friday, hitting $210.2840. 2,694,393 shares of the company were exchanged, compared to its average volume of 6,648,955. The company has a 50 day moving average of $192.45 and a two-hundred day moving average of $192.81. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66. The firm has a market cap of $371.48 billion, a price-to-earnings ratio of 100.14, a PEG ratio of 1.34 and a beta of 0.50.

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

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th were issued a $1.64 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.1%. AbbVie's dividend payout ratio is presently 312.38%.

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.