Commerzbank Aktiengesellschaft FI Has $24.07 Million Stock Holdings in AbbVie Inc. $ABBV

Key Points

• Commerzbank Aktiengesellschaft FI increased its stake in AbbVie Inc. by 118.8% during the second quarter, amounting to $24.07 million in holdings.
• Several large investors have modified their positions, with 70.23% of AbbVie's stock owned by institutional investors.
• AbbVie recently announced a quarterly dividend of $1.64 per share, scheduled for payment on November 14th, with a dividend yield of 2.8%.

Commerzbank Aktiengesellschaft FI raised its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 118.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,688 shares of the company's stock after purchasing an additional 70,418 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in AbbVie were worth $24,073,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Dohj LLC lifted its position in AbbVie by 41.8% during the 2nd quarter. Dohj LLC now owns 4,529 shares of the company's stock worth $802,000 after acquiring an additional 1,335 shares during the last quarter. First Hawaiian Bank increased its stake in shares of AbbVie by 0.8% in the second quarter. First Hawaiian Bank now owns 7,556 shares of the company's stock worth $1,403,000 after purchasing an additional 60 shares during the period. Narus Financial Partners LLC increased its stake in shares of AbbVie by 25.3% in the first quarter. Narus Financial Partners LLC now owns 1,988 shares of the company's stock worth $417,000 after purchasing an additional 401 shares during the period. BankPlus Trust Department grew its holdings in AbbVie by 3.3% in the 2nd quarter. BankPlus Trust Department now owns 27,113 shares of the company's stock valued at $5,033,000 after buying an additional 855 shares during the last quarter. Finally, Highland Capital Management LLC grew its holdings in AbbVie by 6.3% in the 1st quarter. Highland Capital Management LLC now owns 46,853 shares of the company's stock valued at $9,817,000 after buying an additional 2,792 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the business's stock in a transaction on 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 sale, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business's stock in a transaction on 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 owned 177,292 shares in the company, 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 0.25% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Daiwa Capital Markets raised AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price objective for the company in a research report on Thursday, August 7th. Piper Sandler initiated coverage on shares of AbbVie in a research note on Tuesday, August 12th. They set an "overweight" rating and a $231.00 target price for the company. BMO Capital Markets upped their target price on shares of AbbVie from $215.00 to $240.00 and gave the company an "outperform" rating in a research note on Friday, September 12th. Daiwa America upgraded shares of AbbVie from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Finally, Berenberg Bank upgraded shares of AbbVie from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $170.00 to $270.00 in a report on Wednesday, September 17th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $229.38.

AbbVie Trading Down 0.1%

Shares of AbbVie stock opened at $231.03 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's fifty day moving average price is $214.12 and its two-hundred day moving average price is $196.58. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $244.81. The firm has a market capitalization of $408.13 billion, a PE ratio of 110.01, a price-to-earnings-growth ratio of 1.35 and a beta of 0.51.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $2.97 earnings per share 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 net margin of 6.45% and a return on equity of 699.66%. AbbVie's revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.65 earnings per share. On average, analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.8%. AbbVie's dividend payout ratio is presently 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.

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