Itau Unibanco Holding S.A. Buys 1,599 Shares of AbbVie Inc. $ABBV

Key Points

• Itau Unibanco Holding S.A. increased its stake in AbbVie by 18.1% during the first quarter, now owning a total of 10,420 shares valued at approximately $2,183,000.
• Several institutional investors, including GAMMA Investing LLC, have made significant adjustments to their holdings in AbbVie, with GAMMA increasing its position by 25,841.6% in the same period.
• AbbVie recently announced a quarterly dividend of $1.64 per share, translating to an annualized yield of 3.2%, despite a high dividend payout ratio of 312.38%.

Itau Unibanco Holding S.A. grew its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 18.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,420 shares of the company's stock after buying an additional 1,599 shares during the period. Itau Unibanco Holding S.A.'s holdings in AbbVie were worth $2,183,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ABBV. GAMMA Investing LLC raised its position in AbbVie by 25,841.6% in the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock worth $2,144,382,000 after buying an additional 10,195,284 shares during the last quarter. Nuveen LLC bought a new position in AbbVie in the 1st quarter worth approximately $1,819,154,000. Goldman Sachs Group Inc. boosted its stake in AbbVie by 31.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company's stock worth $3,068,820,000 after purchasing an additional 3,519,187 shares during the period. Deutsche Bank AG boosted its stake in AbbVie by 27.4% in the 4th quarter. Deutsche Bank AG now owns 9,769,102 shares of the company's stock worth $1,735,969,000 after purchasing an additional 2,102,273 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 valued at $2,142,832,000 after acquiring an additional 1,882,780 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

Insider Transactions at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the transaction, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the 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 completion of the transaction, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

ABBV has been the subject of a number of analyst reports. Raymond James Financial restated an "outperform" rating on shares of AbbVie in a research report on Monday. Morgan Stanley lifted their target price on AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Guggenheim upped their target price on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Bank of America boosted their price target on AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Five 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $214.95.

AbbVie Price Performance

ABBV stock opened at $208.24 on Thursday. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The firm has a market capitalization of $367.87 billion, a P/E ratio of 99.16, a P/E/G ratio of 1.34 and a beta of 0.50. The business's 50-day moving average is $194.10 and its two-hundred day moving average is $193.29. AbbVie Inc. has a 1 year low of $163.81 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). The company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. AbbVie's revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.65 EPS. Analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th were issued a $1.64 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.2%. AbbVie's dividend payout ratio is presently 312.38%.

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.

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