Groupama Asset Managment Purchases 17,290 Shares of AbbVie Inc. $ABBV

Key Points

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Groupama Asset Managment boosted its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 13.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,397 shares of the company's stock after purchasing an additional 17,290 shares during the quarter. Groupama Asset Managment's holdings in AbbVie were worth $30,259,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Abound Financial LLC acquired a new position in shares of AbbVie during the first quarter valued at $30,000. Siemens Fonds Invest GmbH boosted its holdings in shares of AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after acquiring an additional 119,141 shares during the period. Cypress Capital Management LLC WY acquired a new position in shares of AbbVie during the first quarter valued at $35,000. Pinney & Scofield Inc. acquired a new position in shares of AbbVie during the fourth quarter valued at $36,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of AbbVie during the first quarter valued at $42,000. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Up 0.2%

NYSE:ABBV traded up $0.3910 during trading hours on Thursday, hitting $209.5410. 5,323,795 shares of the stock traded hands, compared to its average volume of 6,674,304. The firm has a 50 day moving average price of $192.45 and a 200 day moving average price of $192.81. The firm has a market cap of $370.17 billion, a price-to-earnings ratio of 99.78, a PEG ratio of 1.32 and a beta of 0.50. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14.

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 analysts' consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business's quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.65 EPS. Equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

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

Insider Activity

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the transaction, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Citigroup boosted their price target on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Evercore ISI boosted their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Raymond James Financial boosted their price target on shares of AbbVie from $227.00 to $236.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, Bank of America boosted their price target on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and an average price target of $214.95.

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.