IFM Investors Pty Ltd Boosts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

IFM Investors Pty Ltd lifted its stake in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 21.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 284,763 shares of the company’s stock after acquiring an additional 49,543 shares during the quarter. AbbVie accounts for about 0.7% of IFM Investors Pty Ltd’s portfolio, making the stock its 22nd largest position. IFM Investors Pty Ltd’s holdings in AbbVie were worth $46,163,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Castle Financial & Retirement Planning Associates Inc. purchased a new position in AbbVie in the fourth quarter valued at $25,000. Intelligent Financial Strategies purchased a new position in AbbVie in the fourth quarter valued at $27,000. Psagot Value Holdings Ltd. Israel increased its holdings in AbbVie by 311.3% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company’s stock valued at $28,000 after buying an additional 3,300 shares during the last quarter. Steward Financial Group LLC acquired a new position in AbbVie in the fourth quarter valued at $30,000. Finally, Maryland Capital Advisors Inc. acquired a new position in AbbVie in the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 67.03% of the company’s stock.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $143.51 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.82 and a debt-to-equity ratio of 3.89. The company has a market cap of $253.60 billion, a P/E ratio of 20.59, a PEG ratio of 4.24 and a beta of 0.77. AbbVie Inc. has a 52 week low of $105.56 and a 52 week high of $175.91. The company has a 50-day moving average price of $148.53 and a 200 day moving average price of $150.13.

AbbVie (NYSE:ABBV – Get Rating) last posted its quarterly earnings results on Friday, July 29th. The company reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.31 by $0.06. AbbVie had a net margin of 22.00% and a return on equity of 159.31%. The company had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same period last year, the firm earned $3.11 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts predict that AbbVie Inc. will post 14.03 earnings per share for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 15th will be given a dividend of $1.41 per share. The ex-dividend date is Thursday, July 14th. This represents a $5.64 annualized dividend and a dividend yield of 3.93%. AbbVie’s dividend payout ratio is currently 80.92%.

Insider Buying and Selling

In other AbbVie news, EVP Henry O. Gosebruch sold 83,960 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $155.00, for a total value of $13,013,800.00. Following the completion of the transaction, the executive vice president now directly owns 16,623 shares in the company, valued at approximately $2,576,565. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AbbVie news, EVP Henry O. Gosebruch sold 83,960 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $155.00, for a total value of $13,013,800.00. Following the completion of the transaction, the executive vice president now directly owns 16,623 shares in the company, valued at approximately $2,576,565. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Michael Severino sold 100,000 shares of the business’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $150.81, for a total value of $15,081,000.00. Following the completion of the transaction, the insider now owns 152,103 shares of the company’s stock, valued at $22,938,653.43. The disclosure for this sale can be found here. Insiders sold 463,761 shares of company stock worth $70,609,771 in the last ninety days. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ABBV shares. Wells Fargo & Company upped their price objective on shares of AbbVie from $165.00 to $200.00 in a research note on Monday, May 2nd. The Goldman Sachs Group upped their price objective on shares of AbbVie from $122.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, April 12th. UBS Group upped their price objective on shares of AbbVie to $154.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. StockNews.com upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 8th. Finally, Piper Sandler decreased their target price on shares of AbbVie from $160.00 to $155.00 in a research note on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $159.81.

About AbbVie

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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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