AbbVie Inc. (NYSE:ABBV) Shares Acquired by Tokio Marine Asset Management Co. Ltd.

Key Points

• Tokio Marine Asset Management Co. Ltd. increased its holdings in AbbVie Inc. by 5.0%, acquiring an additional 2,626 shares, bringing its total to 54,765 shares valued at approximately $11.47 million.
• Analysts have recently made significant upgrades to AbbVie’s stock ratings, with Daiwa America changing its recommendation from "hold" to "strong-buy" and setting a price target of $214.00.
• AbbVie declared a quarterly dividend of $1.64, scheduled for payment on August 15th, representing an annualized yield of 3.3% based on current stock prices.

Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 5.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 54,765 shares of the company's stock after purchasing an additional 2,626 shares during the period. Tokio Marine Asset Management Co. Ltd.'s holdings in AbbVie were worth $11,474,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ABBV shares. Bank of America raised their target price on AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Morgan Stanley lifted their price objective on AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Piper Sandler reiterated an "overweight" rating and issued a $231.00 price objective on shares of AbbVie in a report on Tuesday. Citigroup lifted their price objective on AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Finally, Raymond James Financial lifted their price objective on AbbVie from $227.00 to $236.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $214.95.

AbbVie Trading Up 1.4%

NYSE:ABBV traded up $2.72 during trading hours on Wednesday, reaching $201.36. 3,557,515 shares of the stock were exchanged, compared to its average volume of 5,081,565. 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 business has a 50-day moving average of $190.39 and a two-hundred day moving average of $191.67. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $218.66. The company has a market capitalization of $355.71 billion, a price-to-earnings ratio of 95.89, a PEG ratio of 1.28 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $14.93 billion. During the same quarter last year, the company earned $2.65 earnings per share. The firm's revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current 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 paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Tuesday, July 15th. AbbVie's dividend payout ratio is 312.38%.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction on 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 transaction, the executive vice president directly owned 58,247 shares in the company, valued at $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

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.