Vanguard Personalized Indexing Management LLC Has $50.84 Million Stake in AbbVie Inc. $ABBV

Vanguard Personalized Indexing Management LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 16.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 273,739 shares of the company’s stock after buying an additional 37,680 shares during the period. AbbVie comprises 0.6% of Vanguard Personalized Indexing Management LLC’s portfolio, making the stock its 21st biggest position. Vanguard Personalized Indexing Management LLC’s holdings in AbbVie were worth $50,835,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ABBV. Nuveen LLC acquired a new stake in shares of AbbVie during the first quarter worth approximately $1,819,154,000. Assenagon Asset Management S.A. increased its holdings in shares of AbbVie by 550.9% during the second quarter. Assenagon Asset Management S.A. now owns 4,332,054 shares of the company’s stock worth $804,116,000 after buying an additional 3,666,521 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of AbbVie by 31.6% during the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock worth $3,068,820,000 after buying an additional 3,519,187 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of AbbVie during the second quarter worth approximately $581,817,000. Finally, Bessemer Group Inc. grew its stake in shares of AbbVie by 147.6% during the first quarter. Bessemer Group Inc. now owns 2,752,953 shares of the company’s stock valued at $576,800,000 after purchasing an additional 1,641,091 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several research analyst reports. Bank of America increased their price target on shares of AbbVie from $220.00 to $251.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a research note on Wednesday. Piper Sandler increased their price target on shares of AbbVie from $231.00 to $284.00 and gave the company an “overweight” rating in a research note on Friday. Raymond James Financial reissued an “outperform” rating on shares of AbbVie in a research note on Monday, August 25th. Finally, Cantor Fitzgerald set a $250.00 price target on shares of AbbVie and gave the company an “overweight” rating in a research note on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $231.90.

Insiders Place Their Bets

In other news, EVP Nicholas Donoghoe sold 13,295 shares of AbbVie stock in a transaction 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 directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This trade represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of ABBV stock opened at $230.88 on Friday. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $244.81. The stock has a market cap of $407.86 billion, a PE ratio of 109.94, a PEG ratio of 1.35 and a beta of 0.51. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The firm’s 50 day moving average price is $214.84 and its two-hundred day moving average price is $196.76.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The business had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the previous year, the business posted $2.65 earnings per share. AbbVie’s revenue was up 6.6% compared to the same quarter last year. As a group, analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio (DPR) is currently 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.