AbbVie Inc. (NYSE:ABBV) Shares Purchased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lifted its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,876,732 shares of the company's stock after buying an additional 198,049 shares during the period. AbbVie comprises approximately 1.6% of Robeco Institutional Asset Management B.V.'s portfolio, making the stock its 9th biggest position. Robeco Institutional Asset Management B.V. owned about 0.22% of AbbVie worth $812,253,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. EnRich Financial Partners LLC raised its holdings in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after acquiring an additional 110 shares in the last quarter. Promus Capital LLC bought a new position in AbbVie during the fourth quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie during the fourth quarter valued at about $31,000. Prudent Man Investment Management Inc. bought a new position in AbbVie during the fourth quarter valued at about $32,000. Finally, Siemens Fonds Invest GmbH raised its holdings in AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after buying an additional 119,141 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Price Performance

Shares of NYSE:ABBV traded down $4.90 during trading on Friday, reaching $181.89. The stock had a trading volume of 29,262,557 shares, compared to its average volume of 6,322,369. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66. The business's 50-day moving average price is $186.03 and its 200 day moving average price is $187.88. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The stock has a market capitalization of $321.29 billion, a PE ratio of 77.40, a P/E/G ratio of 1.24 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter in the previous year, the company posted $2.31 earnings per share. AbbVie's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.61%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is presently 279.15%.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on ABBV. Bank of America raised their price target on AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Citigroup raised their price target on AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Morgan Stanley raised their price target on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Guggenheim raised their price target on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Cantor Fitzgerald began coverage on AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target on the stock. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and a consensus price target of $211.29.

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.