AbbVie Inc. (NYSE:ABBV) Shares Bought by Vontobel Holding Ltd.

Posted by Defense World Staff on Jun 24th, 2023

Vontobel Holding Ltd. grew its holdings in AbbVie Inc. (NYSE:ABBV – Get Rating) by 86.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 353,831 shares of the company’s stock after buying an additional 163,840 shares during the quarter. Vontobel Holding Ltd.’s holdings in AbbVie were worth $56,390,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Country Club Bank GFN lifted its holdings in shares of AbbVie by 12.1% in the 1st quarter. Country Club Bank GFN now owns 11,189 shares of the company’s stock valued at $1,767,000 after buying an additional 1,209 shares during the period. Atlas Private Wealth Advisors lifted its holdings in shares of AbbVie by 13.3% in the 1st quarter. Atlas Private Wealth Advisors now owns 1,643 shares of the company’s stock valued at $262,000 after buying an additional 193 shares during the period. Naviter Wealth LLC lifted its holdings in shares of AbbVie by 0.9% in the 1st quarter. Naviter Wealth LLC now owns 7,378 shares of the company’s stock valued at $1,176,000 after buying an additional 68 shares during the period. First National Bank of Mount Dora Trust Investment Services lifted its holdings in shares of AbbVie by 4.3% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 52,042 shares of the company’s stock valued at $8,294,000 after buying an additional 2,125 shares during the period. Finally, Flagship Harbor Advisors LLC raised its holdings in AbbVie by 13.0% during the first quarter. Flagship Harbor Advisors LLC now owns 34,187 shares of the company’s stock worth $5,448,000 after purchasing an additional 3,934 shares during the last quarter. 68.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Perry C. Siatis sold 3,520 shares of the business’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $160.00, for a total transaction of $563,200.00. Following the completion of the sale, the executive vice president now owns 10,377 shares of the company’s stock, valued at $1,660,320. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other AbbVie news, SVP Elaine K. Sorg sold 6,130 shares of the business’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $1,011,450.00. Following the completion of the sale, the senior vice president now owns 35,330 shares of the company’s stock, valued at $5,829,450. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Perry C. Siatis sold 3,520 shares of the company’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $160.00, for a total value of $563,200.00. Following the completion of the sale, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at approximately $1,660,320. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,151 shares of company stock valued at $5,187,783. Company insiders own 0.26% of the company’s stock.

AbbVie Stock Performance

AbbVie stock opened at $135.92 on Friday. The firm has a market capitalization of $239.80 billion, a P/E ratio of 32.13, a PEG ratio of 2.53 and a beta of 0.58. The stock has a fifty day moving average price of $144.96 and a 200 day moving average price of $152.13. AbbVie Inc. has a 52 week low of $131.10 and a 52 week high of $168.11. The company has a current ratio of 0.96, a quick ratio of 0.82 and a debt-to-equity ratio of 4.46.

AbbVie (NYSE:ABBV – Get Rating) last released its earnings results on Thursday, April 27th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.44 by $0.02. The firm had revenue of $12.23 billion during the quarter, compared to analyst estimates of $12.23 billion. AbbVie had a return on equity of 153.92% and a net margin of 13.37%. The business’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.16 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 10.97 earnings per share for the current year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend is Thursday, July 13th. AbbVie’s dividend payout ratio (DPR) is presently 139.95%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Barclays boosted their target price on AbbVie from $155.00 to $160.00 in a research report on Wednesday, April 12th. Morgan Stanley boosted their target price on AbbVie from $178.00 to $181.00 and gave the stock an “overweight” rating in a research report on Monday, April 10th. StockNews.com assumed coverage on AbbVie in a research report on Thursday, May 18th. They set a “strong-buy” rating on the stock. Argus downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Wednesday, April 5th. Finally, Guggenheim decreased their target price on AbbVie from $172.00 to $171.00 in a research report on Friday, April 28th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $163.40.

About AbbVie

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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.