Financial Insights Inc. Grows Stock Holdings in AbbVie Inc. $ABBV

Financial Insights Inc. lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 41.0% during the second quarter, Holdings Channel reports. The institutional investor owned 2,127 shares of the company’s stock after purchasing an additional 618 shares during the period. Financial Insights Inc.’s holdings in AbbVie were worth $395,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of AbbVie by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 173,917,865 shares of the company’s stock valued at $36,439,271,000 after buying an additional 845,787 shares in the last quarter. Northern Trust Corp increased its holdings in AbbVie by 0.9% in the 1st quarter. Northern Trust Corp now owns 22,013,920 shares of the company’s stock valued at $4,612,357,000 after acquiring an additional 189,294 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in AbbVie by 31.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after acquiring an additional 3,519,187 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in AbbVie by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,771,854 shares of the company’s stock valued at $2,675,959,000 after acquiring an additional 713,148 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in AbbVie by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,413,033 shares of the company’s stock valued at $1,972,050,000 after acquiring an additional 45,871 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on ABBV shares. Berenberg Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating and lifted their price target for the company from $170.00 to $270.00 in a report on Wednesday, September 17th. Hsbc Global Res downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Wednesday. BMO Capital Markets lifted their price target on shares of AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, September 12th. Cantor Fitzgerald lifted their price target on shares of AbbVie from $215.00 to $245.00 and gave the company an “overweight” rating in a report on Monday, September 15th. Finally, Evercore ISI lifted their price target on shares of AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $228.22.

Insider Activity

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the company’s 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 transaction, the executive vice president directly owned 177,292 shares in the company, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction dated 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 $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

AbbVie stock opened at $234.07 on Friday. The company’s 50-day moving average price is $210.77 and its 200-day moving average price is $195.90. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $244.81. 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 company has a market cap of $413.49 billion, a PE ratio of 111.46, a price-to-earnings-growth ratio of 1.37 and a beta of 0.51.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.97 EPS 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 the consensus estimate of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.65 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is presently 312.38%.

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.