BDF Gestion Sells 12,161 Shares of AbbVie Inc. $ABBV

Key Points

• BDF Gestion reduced its holdings in AbbVie Inc. by 22.6% during the second quarter, selling 12,161 shares and leaving them with 41,700 shares valued at approximately $7.74 million.
• A significant number of institutional investors increased their stakes in AbbVie recently, with 70.23% of the stock now owned by hedge funds and other institutional investors.
• AbbVie announced a quarterly dividend of $1.64 per share, which translates to an annualized dividend yield of 3.0%, with the ex-dividend date set for October 15th.

BDF Gestion trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 22.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,700 shares of the company's stock after selling 12,161 shares during the quarter. AbbVie comprises approximately 0.9% of BDF Gestion's investment portfolio, making the stock its 21st biggest position. BDF Gestion's holdings in AbbVie were worth $7,740,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Marshall & Sullivan Inc. WA acquired a new stake in shares of AbbVie during the second quarter worth $25,000. TD Capital Management LLC lifted its holdings in shares of AbbVie by 82.9% during the first quarter. TD Capital Management LLC now owns 128 shares of the company's stock worth $27,000 after buying an additional 58 shares in the last quarter. Abound Financial LLC acquired a new stake in shares of AbbVie during the first quarter worth $30,000. Siemens Fonds Invest GmbH lifted its holdings 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 buying an additional 119,141 shares in the last quarter. Finally, Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie during the first quarter worth $35,000. 70.23% of the stock is owned by institutional investors.

Insider Activity at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 58,247 shares of the company's stock, valued at $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company's stock in a transaction that occurred on 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 directly owned 177,292 shares of the company's stock, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research reports. Cantor Fitzgerald lifted their target price on AbbVie from $215.00 to $245.00 and gave the stock an "overweight" rating in a report on Monday, September 15th. Daiwa Capital Markets raised AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 target price for the company in a report on Thursday, August 7th. Daiwa America raised AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. Bank of America boosted their price target on AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. Finally, Morgan Stanley boosted their price target on AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $223.45.

AbbVie Price Performance

NYSE ABBV traded up $0.21 during trading on Tuesday, hitting $222.80. 1,265,919 shares of the company's stock were exchanged, compared to its average volume of 6,451,616. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The company has a market cap of $393.59 billion, a PE ratio of 106.12, a P/E/G ratio of 1.33 and a beta of 0.53. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $225.16. The stock's 50 day moving average price is $203.75 and its two-hundred day moving average price is $194.84.

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

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.9%. AbbVie's dividend payout ratio is currently 312.38%.

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.