GAM Holding AG Cuts Stake in AbbVie Inc. (NYSE:ABBV)

GAM Holding AG reduced its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 21.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,821 shares of the company's stock after selling 1,812 shares during the period. GAM Holding AG's holdings in AbbVie were worth $1,429,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Tallon Kerry Patrick acquired a new stake in AbbVie during the 4th quarter worth approximately $309,000. LaFleur & Godfrey LLC increased its position in AbbVie by 4.1% during the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock worth $14,109,000 after purchasing an additional 3,108 shares in the last quarter. Brighton Jones LLC increased its position in AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after purchasing an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC increased its position in AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after purchasing an additional 3,064 shares in the last quarter. Finally, Compass Capital Corp MA ADV acquired a new stake in AbbVie during the 4th quarter worth approximately $268,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Performance

Shares of ABBV opened at $185.16 on Friday. The business's fifty day moving average price is $185.19 and its 200 day moving average price is $187.70. AbbVie Inc. has a 12-month low of $163.52 and a 12-month high of $218.66. The stock has a market capitalization of $327.06 billion, a PE ratio of 78.79, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. During the same period last year, the business posted $2.31 earnings per share. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.54%. AbbVie's dividend payout ratio (DPR) is presently 279.15%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Bank of America increased their target price on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. 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 research report on Monday, April 28th. Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. BNP Paribas raised shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Finally, Citigroup increased their price objective on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by company insiders.

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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