DekaBank Deutsche Girozentrale Has $560.87 Million Position in AbbVie Inc. $ABBV

DekaBank Deutsche Girozentrale decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 0.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,054,882 shares of the company’s stock after selling 29,149 shares during the quarter. AbbVie accounts for about 1.0% of DekaBank Deutsche Girozentrale’s portfolio, making the stock its 14th largest holding. DekaBank Deutsche Girozentrale owned approximately 0.17% of AbbVie worth $560,870,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TD Capital Management LLC increased its holdings in AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the period. Marshall & Sullivan Inc. WA bought a new position in AbbVie in the 2nd quarter valued at about $25,000. Abound Financial LLC bought a new position in AbbVie in the 1st quarter valued at about $30,000. Cypress Capital Management LLC WY bought a new position in AbbVie in the 1st quarter valued at about $35,000. Finally, Inlight Wealth Management LLC bought a new position in AbbVie in the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the topic of several recent analyst reports. Raymond James Financial reissued an “outperform” rating and issued a $250.00 target price (up from $236.00) on shares of AbbVie in a report on Friday. Bank of America lifted their price target on shares of AbbVie from $220.00 to $251.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. HSBC set a $225.00 price target on shares of AbbVie in a report on Thursday, October 2nd. Daiwa America raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $234.05.

Insider Buying and Selling

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the business’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 value 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. The trade was a 18.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the completion of the transaction, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. This trade represents a 19.29% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

AbbVie Trading Up 1.2%

ABBV opened at $229.66 on Monday. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. 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 capitalization of $405.71 billion, a price-to-earnings ratio of 109.36, a PEG ratio of 1.43 and a beta of 0.51. The company’s 50 day moving average price is $217.91 and its two-hundred day moving average price is $197.52.

AbbVie (NYSE:ABBV) last posted its earnings results 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). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the previous year, the firm earned $2.65 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. As a group, research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s payout ratio is presently 312.38%.

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.