Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Has $867,000 Stake in AbbVie Inc. $ABBV

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 27.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,671 shares of the company’s stock after selling 1,796 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in AbbVie were worth $867,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Conning Inc. boosted its stake in AbbVie by 7.1% during the 2nd quarter. Conning Inc. now owns 191,023 shares of the company’s stock worth $35,458,000 after acquiring an additional 12,690 shares during the last quarter. Dohj LLC boosted its stake in AbbVie by 41.8% during the 2nd quarter. Dohj LLC now owns 4,529 shares of the company’s stock worth $802,000 after acquiring an additional 1,335 shares during the last quarter. First Hawaiian Bank boosted its stake in AbbVie by 0.8% during the 2nd quarter. First Hawaiian Bank now owns 7,556 shares of the company’s stock worth $1,403,000 after acquiring an additional 60 shares during the last quarter. Narus Financial Partners LLC boosted its stake in AbbVie by 25.3% during the 1st quarter. Narus Financial Partners LLC now owns 1,988 shares of the company’s stock worth $417,000 after acquiring an additional 401 shares during the last quarter. Finally, BankPlus Trust Department boosted its stake in AbbVie by 3.3% during the 2nd quarter. BankPlus Trust Department now owns 27,113 shares of the company’s stock worth $5,033,000 after acquiring an additional 855 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the 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 completion of the transaction, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction dated 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 owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $228.06 on Monday. 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 company has a market capitalization of $402.87 billion, a P/E ratio of 108.60, a price-to-earnings-growth ratio of 1.44 and a beta of 0.51. The company’s 50 day moving average price is $220.69 and its two-hundred day moving average price is $199.24. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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 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 prior year, the firm earned $2.65 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. 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 research note on Friday, August 1st. Bank of America lifted their price objective on shares of AbbVie from $220.00 to $251.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Citigroup reissued a “neutral” rating on shares of AbbVie in a research note on Monday, October 13th. Cantor Fitzgerald set a $250.00 target price on shares of AbbVie and gave the stock an “overweight” rating in a report on Thursday, October 9th. Finally, HSBC set a $225.00 target price on shares of AbbVie in a report on Thursday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.80.

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.