IFM Investors Pty Ltd Has $64.35 Million Stock Holdings in AbbVie Inc. $ABBV

Key Points

• IFM Investors Pty Ltd increased its holdings in AbbVie Inc. by 3.6%, owning 346,697 shares valued at $64.35 million.
• Recent transactions include insider sales, with executive Nicholas Donoghoe selling 13,295 shares and Azita Saleki-Gerhardt selling 42,370 shares, indicating an 18.58% and 19.29% decrease in their ownership, respectively.
• AbbVie announced a quarterly dividend of $1.64 per share, scheduled for payment on November 14th, representing a 3.0% dividend yield.

IFM Investors Pty Ltd grew its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 3.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 346,697 shares of the company's stock after purchasing an additional 12,093 shares during the quarter. AbbVie makes up approximately 0.6% of IFM Investors Pty Ltd's portfolio, making the stock its 24th largest holding. IFM Investors Pty Ltd's holdings in AbbVie were worth $64,354,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Anderson Hoagland & Co. raised its position in shares of AbbVie by 2.5% in the second quarter. Anderson Hoagland & Co. now owns 2,494 shares of the company's stock valued at $463,000 after purchasing an additional 60 shares during the period. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of AbbVie in the second quarter worth $456,000. Kozak & Associates Inc. grew its stake in shares of AbbVie by 164.4% in the second quarter. Kozak & Associates Inc. now owns 4,849 shares of the company's stock worth $924,000 after acquiring an additional 3,015 shares during the last quarter. Charter Oak Capital Management LLC grew its stake in shares of AbbVie by 1.6% in the second quarter. Charter Oak Capital Management LLC now owns 8,671 shares of the company's stock worth $1,609,000 after acquiring an additional 134 shares during the last quarter. Finally, Burns J W & Co. Inc. NY grew its stake in shares of AbbVie by 3.0% in the second quarter. Burns J W & Co. Inc. NY now owns 34,266 shares of the company's stock worth $6,360,000 after acquiring an additional 1,005 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

Shares of AbbVie stock traded up $0.62 during trading on Monday, reaching $223.09. The company's stock had a trading volume of 5,989,926 shares, compared to its average volume of 4,689,837. The stock has a 50-day moving average price of $203.75 and a two-hundred day moving average price of $194.84. 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 Inc. has a one year low of $163.81 and a one year high of $225.16. The stock has a market capitalization of $394.09 billion, a P/E ratio of 106.23, a price-to-earnings-growth ratio of 1.33 and a beta of 0.53.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data 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 firm 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%.The business's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.65 earnings per share. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal 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 paid a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.9%. AbbVie's dividend payout ratio is 312.38%.

Insider Transactions at AbbVie

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction dated 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 sale, the executive vice president directly 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the sale, the executive vice president directly owned 177,292 shares of the company's stock, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ABBV shares. Daiwa America upgraded shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. Piper Sandler started coverage on shares of AbbVie in a research note on Tuesday, August 12th. They issued an "overweight" rating and a $231.00 price objective on the stock. Citigroup raised their price objective on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research note on Wednesday, June 11th. Morgan Stanley raised their price objective on shares of AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Cantor Fitzgerald lifted their target price on shares of AbbVie from $215.00 to $245.00 and gave the company an "overweight" rating in a research note on Monday, September 15th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $223.45.

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.