ASR Vermogensbeheer N.V. Makes New $38.05 Million Investment in AbbVie Inc. (NYSE:ABBV)

Key Points

• ASR Vermogensbeheer N.V. acquired 181,602 shares of AbbVie Inc., valued at approximately $38 million, during the first quarter of the year.
• AbbVie recently reported earnings of $2.97 per share for the last quarter, missing analyst estimates of $3.24, but achieved revenues of $15.42 billion, surpassing expectations.
• The company announced a quarterly dividend of $1.64 per share, with a dividend yield of 3.3%, reflecting an annualized payout of $6.56.

ASR Vermogensbeheer N.V. bought a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 181,602 shares of the company's stock, valued at approximately $38,050,000.

Several other institutional investors have also modified their holdings of ABBV. EnRich Financial Partners LLC boosted its stake in shares of AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after buying an additional 110 shares during the last quarter. Abound Financial LLC acquired a new stake in AbbVie in the first quarter valued at $30,000. Siemens Fonds Invest GmbH boosted its stake in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after acquiring an additional 119,141 shares during the last quarter. Cypress Capital Management LLC WY acquired a new position in AbbVie during the 1st quarter worth $35,000. Finally, Pinney & Scofield Inc. bought a new stake in shares of AbbVie in the 4th quarter worth about $36,000. Institutional investors and hedge funds own 70.23% of the company's stock.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the sale, the executive vice president owned 58,247 shares of the company's stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.25% of the company's stock.

AbbVie Stock Performance

ABBV stock traded up $2.47 during trading on Thursday, reaching $198.77. 4,683,300 shares of the company's stock were exchanged, compared to its average volume of 5,278,528. The firm has a market cap of $351.13 billion, a PE ratio of 94.65, a P/E/G ratio of 1.26 and a beta of 0.50. The company has a quick ratio of 0.64, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $218.66. The company's fifty day moving average price is $189.13 and its 200-day moving average price is $190.69.

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, research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's dividend payout ratio (DPR) is presently 312.38%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research reports. Evercore ISI lifted their price target on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Raymond James Financial lifted their target price on AbbVie from $227.00 to $236.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Morgan Stanley boosted their price target on AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Cantor Fitzgerald assumed coverage on AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective on the stock. Finally, Citigroup boosted their target price on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $214.43.

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.