S Bank Fund Management Ltd Buys Shares of 13,510 AbbVie Inc. (NYSE:ABBV)

Key Points

• S Bank Fund Management Ltd purchased 13,510 shares of AbbVie Inc., valued at approximately $2,831,000, during the first quarter, marking a significant investment in the company.
• AbbVie recently declared a **quarterly dividend** of $1.64, resulting in an annualized dividend of $6.56, indicating a yield of 3.3%.
• Analyst ratings for AbbVie vary, with a majority issuing **buy** ratings and new price targets reaching as high as **$236.00**, reflecting positive market expectations for the stock.

S Bank Fund Management Ltd purchased a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 13,510 shares of the company's stock, valued at approximately $2,831,000.

Other institutional investors have also modified their holdings of the company. Abound Financial LLC bought a new stake in shares of AbbVie in the 1st quarter valued at about $30,000. Siemens Fonds Invest GmbH boosted its holdings in shares of 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 in the last quarter. Cypress Capital Management LLC WY bought a new stake in shares of AbbVie in the 1st quarter valued at about $35,000. Pinney & Scofield Inc. bought a new stake in shares of AbbVie in the 4th quarter valued at about $36,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of AbbVie in the 1st quarter valued at about $42,000. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ABBV shares. Daiwa Capital Markets upgraded shares of AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price target on the stock in a report on Thursday, August 7th. Citigroup lifted their target price on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research note on Wednesday, June 11th. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Bank of America lifted their target price on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Finally, Raymond James Financial lifted their target price on shares of AbbVie from $227.00 to $236.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Six analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and an average price target of $214.95.

AbbVie Price Performance

NYSE:ABBV opened at $198.56 on Wednesday. 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 cap of $350.77 billion, a price-to-earnings ratio of 94.55, a price-to-earnings-growth ratio of 1.28 and a beta of 0.50. The company has a 50 day moving average price of $190.11 and a 200-day moving average price of $191.60. 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 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). The firm had revenue of $15.42 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm earned $2.65 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, July 15th. AbbVie's payout ratio is presently 312.38%.

Insider Buying and Selling

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the business'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 sale, the executive vice president owned 58,247 shares of the company's stock, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.08% of the company's stock.

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.

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