OMERS ADMINISTRATION Corp Has $21.77 Million Stock Holdings in AbbVie Inc. $ABBV

Key Points

• OMERS ADMINISTRATION Corp increased its stock holdings in AbbVie Inc. by 32.4%, acquiring a total of 103,882 shares valued at approximately $21.77 million.
• Several institutional investors, including Siemens Fonds Invest GmbH and Cypress Capital Management LLC, have also increased their stakes in AbbVie, with more than 70% of the stock currently owned by institutional investors.
• AbbVie recently announced a quarterly dividend of $1.64 per share, resulting in an annualized dividend of $6.56 and a yield of 3.2%.

OMERS ADMINISTRATION Corp raised its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 32.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,882 shares of the company's stock after acquiring an additional 25,409 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in AbbVie were worth $21,765,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ABBV. Abound Financial LLC acquired a new position in AbbVie in the 1st quarter valued at $30,000. Siemens Fonds Invest GmbH grew its holdings in AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after buying an additional 119,141 shares during the last quarter. Cypress Capital Management LLC WY bought a new position in AbbVie in the 1st quarter worth approximately $35,000. Pinney & Scofield Inc. bought a new position in AbbVie in the 4th quarter worth approximately $36,000. Finally, Inlight Wealth Management LLC bought a new position in AbbVie in the 1st quarter worth approximately $42,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the sale, the executive vice president owned 177,292 shares of the company's stock, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the sale, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

AbbVie Trading Down 0.1%

Shares of AbbVie stock opened at $208.24 on Thursday. The company's fifty day moving average price is $194.10 and its two-hundred day moving average price is $193.29. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66. The firm has a market capitalization of $367.87 billion, a PE ratio of 99.16, a price-to-earnings-growth ratio of 1.34 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results 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 699.66% and a net margin of 6.45%.The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the previous year, the company posted $2.65 EPS. The firm's revenue for the quarter was up 6.6% compared to the same quarter last year. On average, analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ABBV shares. Daiwa America raised shares of AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 7th. Morgan Stanley boosted their target price on shares of AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Bank of America boosted their target price on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Citigroup boosted their target price on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of AbbVie in a research report on Monday. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and an average target price of $214.95.

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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