Compagnie Lombard Odier SCmA Has $57.56 Million Stock Holdings in AbbVie Inc. $ABBV

Key Points

• Compagnie Lombard Odier SCmA reduced its holdings in AbbVie Inc. by 9.6% in Q2, now owning 310,104 shares worth approximately $57.56 million.
• In the latest quarter, numerous institutional investors increased their stakes in AbbVie, with Vanguard Group Inc. acquiring an additional 845,787 shares, bringing its total to over 173 million shares.
• AbbVie declared a quarterly dividend of $1.64, which will be distributed to investors on November 14th, resulting in a dividend yield of 2.9%.

Compagnie Lombard Odier SCmA decreased its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 9.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 310,104 shares of the company's stock after selling 33,055 shares during the period. Compagnie Lombard Odier SCmA's holdings in AbbVie were worth $57,562,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of AbbVie by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company's stock worth $36,439,271,000 after purchasing an additional 845,787 shares in the last quarter. Northern Trust Corp raised its stake in shares of AbbVie by 0.9% during the first quarter. Northern Trust Corp now owns 22,013,920 shares of the company's stock valued at $4,612,357,000 after acquiring an additional 189,294 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in AbbVie by 31.6% during the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company's stock worth $3,068,820,000 after buying an additional 3,519,187 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in AbbVie by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,771,854 shares of the company's stock worth $2,675,959,000 after purchasing an additional 713,148 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of AbbVie by 25,841.6% during the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock valued at $2,144,382,000 after buying an additional 10,195,284 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the sale, the executive vice president owned 58,247 shares of the company's stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the sale, the executive vice president directly owned 177,292 shares in the company, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

AbbVie Stock Performance

ABBV opened at $223.09 on Tuesday. 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 firm has a market capitalization of $394.09 billion, a PE ratio of 106.23, a P/E/G ratio of 1.33 and a beta of 0.53. The firm has a 50 day moving average of $203.75 and a two-hundred day moving average of $194.84. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $225.16.

AbbVie (NYSE:ABBV - Get Free Report) last posted 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 firm had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. AbbVie's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $2.65 earnings per share. On average, analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors 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 dividend on an annualized basis and a yield of 2.9%. AbbVie's dividend payout ratio (DPR) is currently 312.38%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ABBV shares. JPMorgan Chase & Co. boosted their target price on shares of AbbVie from $200.00 to $235.00 and gave the company an "overweight" rating in a research note on Tuesday, September 16th. Wells Fargo & Company increased their target price on shares of AbbVie from $240.00 to $260.00 and gave the company an "overweight" rating in a report on Friday, September 12th. Cantor Fitzgerald increased their price target on shares of AbbVie from $215.00 to $245.00 and gave the company an "overweight" rating in a research report on Monday, September 15th. BMO Capital Markets increased their price target on shares of AbbVie from $215.00 to $240.00 and gave the stock an "outperform" rating in a research note on Friday, September 12th. Finally, Bank of America raised their price objective on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, AbbVie has an average rating of "Moderate Buy" and a consensus target price of $223.45.

AbbVie Company 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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