Edmond DE Rothschild Holding S.A. Boosts Stock Holdings in AbbVie Inc. $ABBV

Key Points

• Edmond DE Rothschild Holding S.A. increased its stake in AbbVie Inc. by 16.5%, acquiring an additional 4,409 shares worth $6,510,000 as per its latest SEC filing.
• Several institutional investors have also boosted their positions in AbbVie, with TD Capital Management LLC increasing its stake by 82.9% during the same quarter.
• AbbVie recently declared a quarterly dividend of $1.64 per share, providing an annualized yield of 3.1%, despite a high dividend payout ratio of 312.38%.

Edmond DE Rothschild Holding S.A. lifted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 16.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,071 shares of the company's stock after buying an additional 4,409 shares during the period. Edmond DE Rothschild Holding S.A.'s holdings in AbbVie were worth $6,510,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Narus Financial Partners LLC lifted its holdings in shares of AbbVie by 25.3% during the 1st quarter. Narus Financial Partners LLC now owns 1,988 shares of the company's stock worth $417,000 after acquiring an additional 401 shares during the last quarter. Highland Capital Management LLC grew its position in shares of AbbVie by 6.3% in the 1st quarter. Highland Capital Management LLC now owns 46,853 shares of the company's stock worth $9,817,000 after buying an additional 2,792 shares during the last quarter. Weaver Capital Management LLC lifted its stake in shares of AbbVie by 3.9% in the 1st quarter. Weaver Capital Management LLC now owns 8,240 shares of the company's stock valued at $1,727,000 after purchasing an additional 310 shares during the period. North Star Asset Management Inc. raised its position in shares of AbbVie by 0.5% in the first quarter. North Star Asset Management Inc. now owns 161,320 shares of the company's stock valued at $33,800,000 after buying an additional 756 shares during the last quarter. Finally, Alpine Bank Wealth Management purchased a new position in shares of AbbVie in the first quarter valued at approximately $3,879,000. Institutional investors own 70.23% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Citigroup increased their price target on AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Daiwa Capital Markets upgraded AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 target price for the company in a research report on Thursday, August 7th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Finally, Raymond James Financial restated an "outperform" rating on shares of AbbVie in a research report on Monday, August 25th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $214.95.

Insider Transactions at AbbVie

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the company's 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 completion of the sale, the executive vice president directly owned 58,247 shares of the company's stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the firm's stock in a transaction that occurred 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 owned 177,292 shares of the company's stock, valued at $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

AbbVie Price Performance

ABBV traded down $2.59 on Monday, reaching $209.97. The company had a trading volume of 5,508,274 shares, compared to its average volume of 6,503,035. AbbVie Inc. has a one year low of $163.81 and a one year high of $218.66. The company has a market capitalization of $370.93 billion, a P/E ratio of 99.99, a PEG ratio of 1.37 and a beta of 0.53. 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 company has a fifty day moving average of $197.74 and a 200-day moving average of $194.08.

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

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie's payout ratio is presently 312.38%.

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.