AbbVie Inc. (NYSE:ABBV) Shares Sold by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG reduced its holdings in AbbVie Inc. by 4.2%, now owning 339,406 shares worth approximately $69.68 million, making it the bank's 21st largest position.
• Analysts have varied sentiments on AbbVie, with target prices ranging from $204.00 to $227.00, and the stock receiving ratings from "hold" to "buy," resulting in a consensus rating of "Moderate Buy."
• AbbVie recently announced a quarterly dividend of $1.64, with an annual yield of 3.4%, though its payout ratio is notably high at 279.15%.

Raiffeisen Bank International AG lowered its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 339,406 shares of the company's stock after selling 14,849 shares during the period. AbbVie comprises about 1.1% of Raiffeisen Bank International AG's investment portfolio, making the stock its 21st biggest holding. Raiffeisen Bank International AG's holdings in AbbVie were worth $69,677,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ABBV. Steel Grove Capital Advisors LLC grew its holdings in AbbVie by 1.7% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock valued at $553,000 after purchasing an additional 52 shares during the period. Peninsula Wealth LLC boosted its stake in shares of AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after acquiring an additional 54 shares during the period. Private Management Group Inc. boosted its stake in shares of AbbVie by 1.9% in the first quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock worth $616,000 after acquiring an additional 54 shares during the period. Connecticut Wealth Management LLC boosted its stake in shares of AbbVie by 1.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after acquiring an additional 57 shares during the period. Finally, Castle Wealth Management LLC boosted its stake in shares of AbbVie by 3.4% in the first quarter. Castle Wealth Management LLC now owns 1,725 shares of the company's stock worth $361,000 after acquiring an additional 57 shares during the period. Institutional investors own 70.23% of the company's stock.

AbbVie Stock Up 0.9%

Shares of NYSE:ABBV traded up $1.83 on Monday, reaching $197.05. The company had a trading volume of 4,216,467 shares, compared to its average volume of 5,844,660. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The firm has a market capitalization of $348.07 billion, a PE ratio of 93.83, a PEG ratio of 1.27 and a beta of 0.50. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66. The firm's 50 day simple moving average is $188.33 and its 200-day simple moving average is $190.42.

AbbVie (NYSE:ABBV - Get Free Report) last posted 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). The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 518.10% and a net margin of 6.45%. The firm's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.65 EPS. As a group, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be given a dividend of $1.64 per share. 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 3.3%. AbbVie's payout ratio is currently 312.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ABBV shares. Guggenheim upped their price objective on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research note on Friday. Morgan Stanley boosted their target price on AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday. The Goldman Sachs Group restated a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Cantor Fitzgerald started coverage on AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.