ING Groep NV Has $113.20 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Key Points

• ING Groep NV reduced its stake in AbbVie by 9.7%, owning 540,297 shares valued at $113.20 million, making AbbVie its 25th largest holding.
• AbbVie reported $2.97 earnings per share for the last quarter, missing analysts' expectations of $3.24, although its revenue increased by 6.6% year-over-year.
• The company declared a quarterly dividend of $1.64, yielding 3.4%, with a payout ratio of 312.38% as of its last filing.

ING Groep NV trimmed its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 540,297 shares of the company's stock after selling 58,038 shares during the period. AbbVie comprises approximately 0.8% of ING Groep NV's portfolio, making the stock its 25th biggest holding. ING Groep NV's holdings in AbbVie were worth $113,203,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors raised its holdings in shares of AbbVie by 2.3% during the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock valued at $6,038,898,000 after purchasing an additional 778,126 shares in the last quarter. Northern Trust Corp increased its position in AbbVie by 11.8% during the fourth quarter. Northern Trust Corp now owns 21,824,626 shares of the company's stock worth $3,878,236,000 after buying an additional 2,299,645 shares during the last quarter. FMR LLC raised its holdings in AbbVie by 32.8% during the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock valued at $3,215,903,000 after buying an additional 4,466,971 shares in the last quarter. Capital World Investors lifted its position in shares of AbbVie by 6.2% in the fourth quarter. Capital World Investors now owns 16,410,277 shares of the company's stock worth $2,915,990,000 after buying an additional 959,242 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of AbbVie by 18.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,058,706 shares of the company's stock worth $2,142,832,000 after acquiring an additional 1,882,780 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Up 3.3%

ABBV opened at $195.17 on Monday. The firm has a market cap of $344.75 billion, a price-to-earnings ratio of 92.94, a PEG ratio of 1.27 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The firm's 50-day simple moving average is $188.33 and its 200-day simple moving average is $190.42. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last issued 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). AbbVie had a return on equity of 518.10% and a net margin of 6.45%. The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the prior year, the company posted $2.65 earnings per share. AbbVie's quarterly revenue was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be paid a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.4%. AbbVie's payout ratio is currently 312.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. BNP Paribas upgraded AbbVie to a "hold" rating in a report on Thursday, May 8th. Morgan Stanley boosted 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. Raymond James Financial raised their target price on shares of AbbVie from $227.00 to $236.00 and gave the company an "outperform" rating in a research note on Friday. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price for the company. Finally, Evercore ISI raised 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. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $212.81.

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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