AbbVie Inc. $ABBV Stock Position Raised by APG Asset Management N.V.

Key Points

• APG Asset Management N.V. increased its stake in AbbVie Inc. by 2.2% in Q1, now holding 1,807,219 shares valued at approximately $350.5 million.
• Several notable investors, including Vanguard and Goldman Sachs, also boosted their positions in AbbVie, with Goldman Sachs increasing its stake by an impressive 31.6%.
• AbbVie reported a 6.6% year-over-year increase in quarterly revenue, totaling $15.42 billion, although its earnings per share fell short of expectations at $2.97.

APG Asset Management N.V. lifted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,807,219 shares of the company's stock after acquiring an additional 38,372 shares during the quarter. AbbVie accounts for 1.1% of APG Asset Management N.V.'s portfolio, making the stock its 16th largest holding. APG Asset Management N.V. owned 0.10% of AbbVie worth $350,536,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of AbbVie by 0.5% in the first quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company's stock worth $36,439,271,000 after buying an additional 845,787 shares during the period. Northern Trust Corp boosted its position in shares of AbbVie by 0.9% in the first quarter. Northern Trust Corp now owns 22,013,920 shares of the company's stock worth $4,612,357,000 after buying an additional 189,294 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of AbbVie by 31.6% in the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company's stock worth $3,068,820,000 after buying an additional 3,519,187 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of AbbVie by 18.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,058,706 shares of the company's stock worth $2,142,832,000 after buying an additional 1,882,780 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of AbbVie by 25,841.6% in the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock worth $2,144,382,000 after buying an additional 10,195,284 shares during the period. 70.23% of the stock is owned by institutional investors.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction dated 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 transaction, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were 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 $35,178,278.64. This represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.25% of the company's stock.

AbbVie Price Performance

NYSE ABBV opened at $210.2840 on Friday. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The stock's 50-day moving average is $192.84 and its two-hundred day moving average is $192.95. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The firm has a market cap of $371.48 billion, a P/E ratio of 100.14, a price-to-earnings-growth ratio of 1.35 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last posted its 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 net margin of 6.45% and a return on equity of 699.66%. The company had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter last year, the business earned $2.65 earnings per share. AbbVie's quarterly revenue was up 6.6% on a year-over-year basis. On average, analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th were paid 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 payout ratio is presently 312.38%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Bank of America raised their target price on AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Daiwa America raised AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Piper Sandler started coverage on AbbVie in a research report on Tuesday, August 12th. They set an "overweight" rating and a $231.00 price objective for the company. Finally, Evercore ISI lifted their price objective on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $214.95.

AbbVie 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.

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