DekaBank Deutsche Girozentrale Acquires 29,149 Shares of AbbVie Inc. (NYSE:ABBV)

DekaBank Deutsche Girozentrale grew its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,084,031 shares of the company's stock after purchasing an additional 29,149 shares during the period. AbbVie makes up approximately 1.2% of DekaBank Deutsche Girozentrale's holdings, making the stock its 12th biggest position. DekaBank Deutsche Girozentrale owned 0.17% of AbbVie worth $625,327,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Norges Bank bought a new position in shares of AbbVie in the fourth quarter valued at approximately $4,459,385,000. GAMMA Investing LLC boosted its holdings in shares of AbbVie by 25,841.6% in the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock valued at $2,144,382,000 after acquiring an additional 10,195,284 shares in the last quarter. FMR LLC boosted its holdings in shares of AbbVie by 32.8% in the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock valued at $3,215,903,000 after acquiring an additional 4,466,971 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of AbbVie by 24.3% in the fourth quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company's stock valued at $3,064,773,000 after acquiring an additional 3,373,156 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of AbbVie by 11.8% in the fourth quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock valued at $3,878,236,000 after acquiring an additional 2,299,645 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Evercore ISI increased their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Citigroup increased their price objective on shares of AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Morgan Stanley increased their target price on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Finally, Guggenheim increased their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $211.29.

AbbVie Stock Down 1.4%

ABBV stock traded down $2.68 during midday trading on Friday, reaching $192.32. The company had a trading volume of 4,990,162 shares, compared to its average volume of 6,302,947. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $218.66. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The company has a market capitalization of $339.71 billion, a P/E ratio of 81.84, a PEG ratio of 1.29 and a beta of 0.48. The company has a 50 day moving average of $187.01 and a two-hundred day moving average of $188.98.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.31 EPS. On average, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.41%. AbbVie's dividend payout ratio is currently 279.15%.

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.