Achmea Investment Management B.V. Purchases 18,304 Shares of AbbVie Inc. (NYSE:ABBV)

Achmea Investment Management B.V. grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 5.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 326,625 shares of the company’s stock after acquiring an additional 18,304 shares during the quarter. AbbVie comprises approximately 1.0% of Achmea Investment Management B.V.’s holdings, making the stock its 16th largest holding. Achmea Investment Management B.V.’s holdings in AbbVie were worth $56,023,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American National Bank boosted its stake in AbbVie by 4.8% during the fourth quarter. American National Bank now owns 59,392 shares of the company’s stock worth $9,204,000 after buying an additional 2,695 shares during the period. AXS Investments LLC boosted its stake in AbbVie by 3.3% during the fourth quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock worth $1,477,000 after buying an additional 307 shares during the period. Mizuho Markets Americas LLC boosted its stake in AbbVie by 33.4% during the fourth quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock worth $4,791,000 after buying an additional 7,737 shares during the period. West Coast Financial LLC boosted its stake in AbbVie by 9.7% during the first quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock worth $287,000 after buying an additional 140 shares during the period. Finally, FCG Investment Co purchased a new position in AbbVie during the first quarter worth $1,413,000. 70.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the transaction, the chairman now directly owns 513,099 shares in the company, valued at $89,792,325. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the sale, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on ABBV shares. BMO Capital Markets lifted their price objective on shares of AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Piper Sandler Companies reiterated an “overweight” rating and set a $190.00 target price on shares of AbbVie in a research report on Wednesday, July 3rd. Piper Sandler lifted their target price on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Truist Financial reiterated a “buy” rating and set a $210.00 target price (up from $195.00) on shares of AbbVie in a research report on Friday, July 26th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $191.64.

AbbVie Stock Performance

ABBV stock opened at $194.59 on Thursday. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The business has a 50-day moving average price of $185.68 and a 200 day moving average price of $175.02. The company has a market capitalization of $343.62 billion, a P/E ratio of 57.74, a PEG ratio of 2.64 and a beta of 0.64. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $199.95.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.91 earnings per share. As a group, equities research analysts forecast that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.19%. AbbVie’s dividend payout ratio is presently 183.98%.

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.