Achmea Investment Management B.V. Has $74.22 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Achmea Investment Management B.V. increased its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 7.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 354,245 shares of the company's stock after acquiring an additional 23,585 shares during the quarter. AbbVie comprises about 1.1% of Achmea Investment Management B.V.'s investment portfolio, making the stock its 11th biggest position. Achmea Investment Management B.V.'s holdings in AbbVie were worth $74,222,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in AbbVie in the 4th quarter valued at approximately $4,459,385,000. 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 valued at $2,144,382,000 after acquiring an additional 10,195,284 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of AbbVie in the fourth quarter worth $1,190,951,000. FMR LLC increased its position 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 acquiring an additional 4,466,971 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in AbbVie by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after purchasing an additional 3,599,336 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Trading Up 0.9%

ABBV opened at $187.06 on Friday. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The firm has a 50-day moving average price of $186.03 and a two-hundred day moving average price of $187.88. The stock has a market capitalization of $330.42 billion, a PE ratio of 79.60, a PEG ratio of 1.23 and a beta of 0.50. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14.

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

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.51%. AbbVie's payout ratio is presently 279.15%.

Wall Street Analyst Weigh In

Several analysts have issued reports on ABBV shares. Citigroup raised their price target on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. BNP Paribas raised AbbVie to a "hold" rating in a research report on Thursday, May 8th. Wells Fargo & Company upped their price target on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Morgan Stanley raised their price objective on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Finally, Bank of America upped their target price on AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. 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 stock. According to data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and an average price target of $211.29.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company's stock.

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.

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