Deutsche Bank AG Has $1.93 Billion Holdings in AbbVie Inc. (NYSE:ABBV)

Key Points

• Deutsche Bank AG reduced its stake in AbbVie Inc. by 5.6%, now holding 9,226,214 shares valued at approximately $1.93 billion.
• Goldman Sachs Group Inc. significantly increased its holdings in AbbVie by 31.6%, now owning 14,646,908 shares worth over $3.06 billion.
• AbbVie recently declared a quarterly dividend of $1.64 per share, translating to an annualized dividend yield of 3.3%.

Deutsche Bank AG decreased its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,226,214 shares of the company's stock after selling 542,888 shares during the quarter. AbbVie comprises approximately 0.8% of Deutsche Bank AG's holdings, making the stock its 16th largest position. Deutsche Bank AG owned approximately 0.52% of AbbVie worth $1,933,076,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Crestline Management LP raised its position in shares of AbbVie by 438.4% during the fourth quarter. Crestline Management LP now owns 35,311 shares of the company's stock worth $6,275,000 after purchasing an additional 28,753 shares during the period. Narus Financial Partners LLC raised its position in shares of AbbVie by 25.3% during 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. Dimensional Fund Advisors LP raised its position in shares of AbbVie by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after purchasing an additional 108,993 shares during the period. AXA S.A. raised its position in AbbVie by 14.8% during the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock valued at $172,705,000 after buying an additional 125,568 shares during the period. Finally, Highland Capital Management LLC raised its position in AbbVie by 6.3% during the first 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 period. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Performance

NYSE:ABBV traded down $0.76 during mid-day trading on Friday, hitting $198.10. 4,101,321 shares of the company's stock traded hands, compared to its average volume of 5,210,216. The firm has a 50 day moving average of $189.65 and a two-hundred day moving average of $191.06. AbbVie Inc. has a 12 month low of $163.81 and a 12 month high of $218.66. The firm has a market capitalization of $349.96 billion, a price-to-earnings ratio of 94.33, a price-to-earnings-growth ratio of 1.28 and a beta of 0.50. The company has a current ratio of 0.74, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV - Get Free Report) last announced 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). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter in the previous year, the company earned $2.65 EPS. AbbVie's revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.3%. AbbVie's dividend payout ratio is 312.38%.

Analyst Upgrades and Downgrades

ABBV has been the topic of several recent analyst reports. Bank of America upped their price target on AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Cantor Fitzgerald initiated coverage on AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target on the stock. BNP Paribas raised AbbVie to a "hold" rating in a research report on Thursday, May 8th. Morgan Stanley upped their price target on AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Evercore ISI upped their price target on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $214.43.

Insider Buying and Selling

In other AbbVie 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by company insiders.

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.