Credit Agricole S A Has $141.39 Million Stock Holdings in AbbVie Inc. $ABBV

Key Points

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Credit Agricole S A grew its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 31.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 674,841 shares of the company's stock after purchasing an additional 161,489 shares during the period. Credit Agricole S A's holdings in AbbVie were worth $141,393,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Abound Financial LLC acquired a new stake in shares of AbbVie in the 1st quarter worth $30,000. Cypress Capital Management LLC WY purchased a new position in AbbVie during the 1st quarter valued at about $35,000. Pinney & Scofield Inc. purchased a new position in AbbVie during the 4th quarter valued at about $36,000. Inlight Wealth Management LLC purchased a new position in AbbVie during the 1st quarter valued at about $42,000. Finally, HWG Holdings LP purchased a new stake in AbbVie during the first quarter worth approximately $42,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of recent research reports. Raymond James Financial boosted their target price on AbbVie from $227.00 to $236.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Morgan Stanley raised their price objective on shares of AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. 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 objective on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Finally, BNP Paribas raised shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Five research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $214.95.

AbbVie Trading Up 0.2%

NYSE ABBV traded up $0.3910 during trading hours on Thursday, hitting $209.5410. 5,323,795 shares of the company's stock were exchanged, compared to its average volume of 6,674,304. The firm has a market capitalization of $370.17 billion, a P/E ratio of 99.78, a price-to-earnings-growth ratio of 1.32 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The business's 50 day moving average is $192.45 and its 200-day moving average is $192.81. AbbVie Inc. has a 12-month low of $163.81 and a 12-month high of $218.66.

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

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were issued a dividend of $1.64 per share. The ex-dividend date was Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.1%. AbbVie's payout ratio is currently 312.38%.

Insider Activity at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the sale, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business'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 sale, the executive vice president owned 177,292 shares of the company's stock, valued at $35,178,278.64. This trade represents 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 owned by insiders.

About AbbVie

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.