AG2R LA Mondiale Gestion D Actifs Buys Shares of 65,157 AbbVie Inc. $ABBV

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired 65,157 shares of AbbVie Inc., valued at around $13.65 million, marking it as the firm's 22nd largest holding.
• Institutional ownership of AbbVie stands at 70.23%, with several investors significantly increasing their stakes recently, such as TD Capital Management LLC, which raised its stake by 82.9%.
• AbbVie declared a quarterly dividend of $1.64 per share, giving it an annualized yield of 3.0% and a payout ratio of 312.38%.

AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 65,157 shares of the company's stock, valued at approximately $13,652,000. AbbVie comprises about 0.8% of AG2R LA Mondiale Gestion D Actifs' investment portfolio, making the stock its 22nd largest holding.

Several other institutional investors have also recently added to or reduced their stakes in ABBV. TD Capital Management LLC increased its stake in AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company's stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Abound Financial LLC bought a new position in shares of AbbVie during the first quarter worth about $30,000. Siemens Fonds Invest GmbH grew its position in shares of AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after acquiring an additional 119,141 shares during the last quarter. Cypress Capital Management LLC WY bought a new position in shares of AbbVie during the first quarter worth about $35,000. Finally, Pinney & Scofield Inc. bought a new position in shares of AbbVie during the fourth quarter worth about $36,000. Institutional investors own 70.23% of the company's stock.

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the sale, the executive vice president directly owned 58,247 shares of the company's stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of the sale, the executive vice president directly owned 177,292 shares of the company's stock, valued at $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Performance

Shares of ABBV opened at $220.09 on Friday. The firm has a 50-day moving average price of $199.67 and a 200 day moving average price of $194.48. The firm has a market capitalization of $388.80 billion, a PE ratio of 104.81, a P/E/G ratio of 1.36 and a beta of 0.53. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $221.77.

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

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie's dividend payout ratio is presently 312.38%.

Analysts Set New Price Targets

Several research firms have recently commented on ABBV. Morgan Stanley upped their price target on shares of AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Raymond James Financial restated an "outperform" rating on shares of AbbVie in a research report on Monday, August 25th. Daiwa America upgraded shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Finally, Bank of America upped their price target on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, AbbVie presently has an average rating of "Moderate Buy" and an average target price 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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