Allianz SE Invests $16.84 Million in AbbVie Inc. (NYSE:ABBV)

Allianz SE acquired a new position in AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 95,560 shares of the company's stock, valued at approximately $16,839,000.

Several other large investors have also recently bought and sold shares of ABBV. Blue Bell Private Wealth Management LLC increased its stake in AbbVie by 30.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock valued at $40,000 after purchasing an additional 52 shares in the last quarter. Physicians Financial Services Inc. grew its stake in shares of AbbVie by 0.5% in the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock valued at $2,159,000 after buying an additional 55 shares during the period. Armstrong Advisory Group Inc. boosted its holdings in AbbVie by 0.6% in the fourth quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company's stock worth $1,749,000 after acquiring an additional 58 shares in the last quarter. Doliver Advisors LP grew its stake in AbbVie by 1.1% in the fourth quarter. Doliver Advisors LP now owns 5,276 shares of the company's stock valued at $938,000 after acquiring an additional 59 shares during the period. Finally, Sound Financial Strategies Group LLC increased its holdings in shares of AbbVie by 5.3% during the fourth quarter. Sound Financial Strategies Group LLC now owns 1,197 shares of the company's stock valued at $213,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Trading Down 0.1 %

Shares of NYSE ABBV traded down $0.30 during mid-day trading on Tuesday, hitting $209.22. The stock had a trading volume of 2,759,337 shares, compared to its average volume of 5,714,384. The business has a 50 day moving average price of $198.27 and a two-hundred day moving average price of $189.02. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The firm has a market cap of $370.11 billion, a P/E ratio of 87.27, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

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AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the previous year, the firm posted $2.79 earnings per share. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.14%. AbbVie's dividend payout ratio is presently 273.33%.

Insider Buying and Selling

In other news, EVP Timothy J. Richmond sold 29,917 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the sale, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. This trade represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,639 shares of company stock valued at $11,067,025 over the last quarter. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of recent research reports. Truist Financial increased their target price on AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. BMO Capital Markets lifted their price objective on shares of AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Morgan Stanley upped their target price on shares of AbbVie from $224.00 to $239.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Piper Sandler Companies reissued an "overweight" rating and issued a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.45.

AbbVie Company 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.