Czech National Bank Increases Stock Position in AbbVie Inc. $ABBV

Czech National Bank lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 6.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 431,771 shares of the company’s stock after acquiring an additional 26,296 shares during the quarter. AbbVie makes up about 0.6% of Czech National Bank’s holdings, making the stock its 23rd largest holding. Czech National Bank’s holdings in AbbVie were worth $80,145,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised 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 worth $36,439,271,000 after acquiring an additional 845,787 shares in the last quarter. Northern Trust Corp raised its stake in shares of AbbVie by 0.9% during the 1st quarter. Northern Trust Corp now owns 22,013,920 shares of the company’s stock worth $4,612,357,000 after acquiring an additional 189,294 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of AbbVie by 31.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock worth $3,068,820,000 after acquiring an additional 3,519,187 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of AbbVie by 5.9% during 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 worth $2,675,959,000 after acquiring an additional 713,148 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of AbbVie by 18.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,058,706 shares of the company’s stock worth $2,142,832,000 after acquiring an additional 1,882,780 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Piper Sandler assumed coverage on shares of AbbVie in a research note on Tuesday, August 12th. They set an “overweight” rating and a $231.00 price objective for the company. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Cantor Fitzgerald upped their price target on shares of AbbVie from $215.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday. Raymond James Financial restated an “outperform” rating on shares of AbbVie in a research note on Monday, August 25th. Finally, Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $218.76.

AbbVie Stock Down 0.2%

NYSE:ABBV opened at $217.92 on Tuesday. The firm has a market capitalization of $384.97 billion, a P/E ratio of 103.77, a PEG ratio of 1.40 and a beta of 0.53. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $221.76. The company’s fifty day moving average price is $200.86 and its 200-day moving average price is $194.51. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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). The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.65 EPS. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

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 $1.64 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.0%. AbbVie’s dividend 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.