AbbVie Inc. (NYSE:ABBV) Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. has reduced its holdings in AbbVie by 4.5%, now owning approximately 3,078,841 shares valued at $645 million.
• Several institutional investors, including GAMMA Investing LLC and Goldman Sachs Group Inc., significantly increased their stakes in AbbVie during the first quarter, demonstrating strong investor interest.
• AbbVie announced a quarterly dividend of $1.64 per share, with an annualized dividend yield of 3.2%, despite a high dividend payout ratio of 312.38%.

American Century Companies Inc. decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,078,841 shares of the company's stock after selling 146,058 shares during the quarter. AbbVie makes up approximately 0.4% of American Century Companies Inc.'s holdings, making the stock its 28th biggest holding. American Century Companies Inc. owned 0.17% of AbbVie worth $645,079,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in AbbVie by 25,841.6% during the first 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 stake in AbbVie during the first quarter valued at approximately $1,819,154,000. Goldman Sachs Group Inc. lifted its stake in 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. Northern Trust Corp lifted its stake in AbbVie by 11.8% during the fourth 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 AbbVie by 27.4% during the fourth 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 Activity at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie 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 completion of the transaction, the executive vice president owned 177,292 shares of the company's stock, valued at $35,178,278.64. This trade represents a 19.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the transaction, the executive vice president directly owned 58,247 shares of the company's stock, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

AbbVie Trading Up 1.6%

ABBV opened at $204.78 on Friday. 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 company has a market cap of $361.75 billion, a price-to-earnings ratio of 97.51, a price-to-earnings-growth ratio of 1.29 and a beta of 0.50. The firm has a 50 day simple moving average of $190.74 and a 200 day simple moving average of $191.86. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66.

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

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio is 312.38%.

Wall Street Analyst Weigh In

ABBV has been the subject of several recent research reports. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Piper Sandler started coverage on shares of AbbVie in a research report on Tuesday. They issued an "overweight" rating and a $231.00 price target for the company. Bank of America upped their price target on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Cantor Fitzgerald started coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target for the company. Finally, Morgan Stanley upped their price target on shares of AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Six research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $214.95.

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.

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