Lbp Am Sa increased its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 19.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 193,058 shares of the company's stock after acquiring an additional 31,964 shares during the quarter. Lbp Am Sa's holdings in AbbVie were worth $35,835,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. First Hawaiian Bank lifted its stake in AbbVie by 0.8% in the second quarter. First Hawaiian Bank now owns 7,556 shares of the company's stock worth $1,403,000 after acquiring an additional 60 shares during the period. Narus Financial Partners LLC lifted its position in shares of AbbVie by 25.3% during the first quarter. Narus Financial Partners LLC now owns 1,988 shares of the company's stock valued at $417,000 after buying an additional 401 shares during the last quarter. Highland Capital Management LLC lifted its position in shares of AbbVie by 6.3% during the first quarter. Highland Capital Management LLC now owns 46,853 shares of the company's stock valued at $9,817,000 after buying an additional 2,792 shares during the last quarter. Weaver Capital Management LLC lifted its position in shares of AbbVie by 3.9% during the first quarter. Weaver Capital Management LLC now owns 8,240 shares of the company's stock valued at $1,727,000 after buying an additional 310 shares during the last quarter. Finally, North Star Asset Management Inc. lifted its position in shares of AbbVie by 0.5% during the first quarter. North Star Asset Management Inc. now owns 161,320 shares of the company's stock valued at $33,800,000 after buying an additional 756 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at AbbVie
In related news, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction that occurred on 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 owned 58,247 shares in the company, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.
AbbVie Stock Performance
ABBV opened at $231.47 on Wednesday. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $232.35. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The company has a market cap of $408.91 billion, a P/E ratio of 110.22, a price-to-earnings-growth ratio of 1.31 and a beta of 0.53. The firm's 50-day moving average price is $207.89 and its 200-day moving average price is $195.37.
AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. During the same quarter last year, the company earned $2.65 EPS. The business's revenue was up 6.6% compared to the same quarter last year. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
AbbVie Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie's dividend payout ratio is 312.38%.
Wall Street Analysts Forecast Growth
Several research firms have commented on ABBV. JPMorgan Chase & Co. increased their price target on shares of AbbVie from $200.00 to $235.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. Guggenheim increased their price target on shares of AbbVie from $216.00 to $227.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Daiwa Capital Markets raised shares of AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price target for the company in a research report on Thursday, August 7th. Morgan Stanley increased their price target on shares of AbbVie from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Cantor Fitzgerald increased their price target on shares of AbbVie from $215.00 to $245.00 and gave the company an "overweight" rating in a research report on Monday, September 15th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $223.45.
Check Out Our Latest Stock Analysis on ABBV
About AbbVie
(
Free Report)
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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