AbbVie Inc. (NYSE:ABBV) Shares Purchased by Allianz SE

Key Points

• Allianz SE has increased its stake in AbbVie Inc. by 2.0%, owning 97,443 shares valued at approximately $20.4 million as of the most recent quarter.
• Analyst ratings for AbbVie indicate a consensus of "Moderate Buy" with a target price of $212.81 after several firms adjusted their price objectives upwards.
• AbbVie recently announced a quarterly dividend of $1.64 per share, representing a yield of 3.4% and a significant dividend payout ratio of 279.15%.

Allianz SE raised its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 97,443 shares of the company's stock after purchasing an additional 1,883 shares during the quarter. Allianz SE's holdings in AbbVie were worth $20,416,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital Research Global Investors raised its holdings in AbbVie by 2.3% during the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock worth $6,038,898,000 after purchasing an additional 778,126 shares during the last quarter. Northern Trust Corp raised its holdings in AbbVie by 11.8% during the fourth quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock worth $3,878,236,000 after purchasing an additional 2,299,645 shares during the last quarter. FMR LLC raised its holdings in AbbVie by 32.8% during the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock worth $3,215,903,000 after purchasing an additional 4,466,971 shares during the last quarter. Capital World Investors raised its holdings in AbbVie by 6.2% during the fourth quarter. Capital World Investors now owns 16,410,277 shares of the company's stock worth $2,915,990,000 after purchasing an additional 959,242 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 acquiring an additional 1,882,780 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Performance

ABBV traded up $1.83 during trading hours on Monday, hitting $197.05. 4,216,467 shares of the stock were exchanged, compared to its average volume of 5,844,660. The stock has a 50-day simple moving average of $188.33 and a 200-day simple moving average of $190.42. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The stock has a market cap of $348.07 billion, a price-to-earnings ratio of 93.83, a price-to-earnings-growth ratio of 1.27 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 518.10% and a net margin of 6.45%. The company's revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the business posted $2.65 EPS. Analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently announced 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 3.3%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is currently 312.38%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ABBV shares. BNP Paribas raised AbbVie to a "hold" rating in a report on Thursday, May 8th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Citigroup boosted their price target on AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Evercore ISI upped their target price on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Finally, Morgan Stanley upped their target price on AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, AbbVie has an average rating of "Moderate Buy" and an average target price of $212.81.

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.