Mn Services Vermogensbeheer B.V. Has $122.75 Million Stock Position in AbbVie Inc. $ABBV

Key Points

• Mn Services Vermogensbeheer B.V. increased its holdings in AbbVie Inc. by 1.9%, acquiring an additional 12,200 shares and making it the fund's 19th largest holding worth approximately $122.8 million.
• AbbVie reported earnings per share of $2.97 for the last quarter, missing estimates by $0.27, although revenue rose to $15.42 billion, surpassing expectations.
• The company declared a quarterly dividend of $1.64 per share, representing an annual yield of 3.0%, with the ex-dividend date set for October 15th.

Mn Services Vermogensbeheer B.V. boosted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 661,304 shares of the company's stock after purchasing an additional 12,200 shares during the quarter. AbbVie comprises approximately 0.9% of Mn Services Vermogensbeheer B.V.'s investment portfolio, making the stock its 19th largest position. Mn Services Vermogensbeheer B.V.'s holdings in AbbVie were worth $122,751,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ABBV. Vanguard Group Inc. boosted its holdings in AbbVie by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company's stock valued at $36,439,271,000 after acquiring an additional 845,787 shares during the period. Northern Trust Corp increased its position in AbbVie by 0.9% during the first quarter. Northern Trust Corp now owns 22,013,920 shares of the company's stock worth $4,612,357,000 after buying an additional 189,294 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of AbbVie by 31.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company's stock valued at $3,068,820,000 after purchasing an additional 3,519,187 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of AbbVie by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,771,854 shares of the company's stock valued at $2,675,959,000 after purchasing an additional 713,148 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of AbbVie by 25,841.6% in the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock valued at $2,144,382,000 after buying an additional 10,195,284 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president directly owned 58,247 shares of the company's stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company's stock in a transaction 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 directly owned 177,292 shares of the company's stock, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ABBV has been the subject of a number of analyst reports. Bank of America boosted their price target on AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday, June 9th. Wells Fargo & Company upped their target price on AbbVie from $240.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, September 12th. Guggenheim upped their target price on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Cantor Fitzgerald increased their price target on AbbVie from $215.00 to $245.00 and gave the company an "overweight" rating in a report on Monday, September 15th. Finally, BMO Capital Markets increased their price target on AbbVie from $215.00 to $240.00 and gave the company an "outperform" rating in a report on Friday, September 12th. 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 stock presently has an average rating of "Moderate Buy" and a consensus target price of $222.68.

AbbVie Stock Performance

Shares of AbbVie stock traded up $0.30 during trading on Friday, reaching $222.29. The company's stock had a trading volume of 14,371,957 shares, compared to its average volume of 4,244,925. AbbVie Inc. has a one year low of $163.81 and a one year high of $223.49. The firm has a market cap of $392.69 billion, a price-to-earnings ratio of 105.85, a price-to-earnings-growth ratio of 1.33 and a beta of 0.53. The business's fifty day moving average price is $203.12 and its 200-day moving average price is $194.89. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data 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). 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 period in the previous year, the firm posted $2.65 earnings per share. The firm's revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.0%. AbbVie's payout ratio is 312.38%.

About AbbVie

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.