Triglav Skladi D.O.O. Boosts Stake in AbbVie Inc. (NYSE:ABBV)

Key Points

• Triglav Skladi D.O.O. increased its stake in AbbVie Inc. by 19.6%, now owning 45,121 shares worth approximately $9.45 million, following a purchase of 7,400 shares in the first quarter.
• AbbVie reported a quarterly EPS of $2.97, which missed the consensus estimate of $3.24, but revenue increased by 6.6% year-over-year, reaching $15.42 billion.
• The company declared a quarterly dividend of $1.64 per share, with a yield of 3.3%, despite a significantly high dividend payout ratio of 312.38%.

Triglav Skladi D.O.O. raised its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 19.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,121 shares of the company's stock after buying an additional 7,400 shares during the period. Triglav Skladi D.O.O.'s holdings in AbbVie were worth $9,454,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in shares of AbbVie in the first quarter worth $334,000. S Bank Fund Management Ltd bought a new position in AbbVie in the 1st quarter valued at $2,831,000. National Pension Service boosted its holdings in AbbVie by 5.7% in the 1st quarter. National Pension Service now owns 3,609,835 shares of the company's stock valued at $756,333,000 after purchasing an additional 193,296 shares during the period. Klingman & Associates LLC boosted its holdings in AbbVie by 4.2% in the 1st quarter. Klingman & Associates LLC now owns 11,683 shares of the company's stock valued at $2,448,000 after purchasing an additional 476 shares during the period. Finally, LGT Group Foundation boosted its holdings in AbbVie by 56.3% in the 1st quarter. LGT Group Foundation now owns 229,325 shares of the company's stock valued at $48,048,000 after purchasing an additional 82,619 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ABBV shares. Piper Sandler started coverage on shares of AbbVie in a report on Tuesday. They issued an "overweight" rating and a $231.00 price target for the company. Daiwa Capital Markets raised shares of AbbVie from a "neutral" rating to an "outperform" rating and set a $214.00 price target for the company in a report on Thursday, August 7th. Morgan Stanley lifted their price objective on shares of AbbVie from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Guggenheim lifted their price objective on shares of AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Raymond James Financial boosted their price objective on shares of AbbVie from $227.00 to $236.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Six equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $214.95.

AbbVie Trading Down 0.0%

NYSE ABBV opened at $198.56 on Wednesday. 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 firm has a market cap of $350.77 billion, a PE 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 52 week low of $163.81 and a 52 week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS 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 for the quarter, compared to the consensus estimate of $14.93 billion. During the same quarter last year, the firm earned $2.65 EPS. The company's revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business 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. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.3%. AbbVie's dividend payout ratio is presently 312.38%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the transaction, the executive vice president owned 58,247 shares in the company, 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 SEC, which can be accessed through the SEC website. Insiders own 0.08% of the company's stock.

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.

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