denkapparat Operations GmbH Purchases New Shares in AbbVie Inc. (NYSE:ABBV)

denkapparat Operations GmbH purchased a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,722 shares of the company's stock, valued at approximately $484,000.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of AbbVie in the 4th quarter valued at $4,459,385,000. Raymond James Financial Inc. bought a new position in AbbVie during the 4th quarter valued at about $1,190,951,000. Charles Schwab Investment Management Inc. boosted its position in AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after buying an additional 3,599,336 shares in the last quarter. Boston Partners grew its stake in AbbVie by 35.9% during the fourth quarter. Boston Partners now owns 5,687,472 shares of the company's stock worth $1,008,867,000 after buying an additional 1,503,875 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of AbbVie by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock worth $30,754,908,000 after buying an additional 1,424,237 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Performance

Shares of AbbVie stock traded up $1.31 during trading on Monday, hitting $206.60. 3,350,405 shares of the stock were exchanged, compared to its average volume of 6,276,844. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The stock has a market capitalization of $365.47 billion, a price-to-earnings ratio of 86.18, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a fifty day moving average price of $197.50 and a 200-day moving average price of $188.91. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

Remove Ads

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 the consensus estimate 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 period in the prior year, the business posted $2.79 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be given a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.18%. AbbVie's dividend payout ratio (DPR) is 273.33%.

Insider Buying and Selling at AbbVie

In other news, EVP Perry C. Siatis sold 5,778 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. The trade was a 62.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,639 shares of company stock worth $11,067,025 over the last ninety days. Insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on ABBV. Raymond James restated an "outperform" rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. UBS Group increased their target price on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Wells Fargo & Company lifted their price target on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Finally, Guggenheim boosted their target price on shares of AbbVie from $212.00 to $214.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.45.

About AbbVie

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.