AbbVie Inc. (NYSE:ABBV) Shares Bought by Saxony Capital Management LLC

Saxony Capital Management LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 4.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,241 shares of the company’s stock after buying an additional 101 shares during the quarter. Saxony Capital Management LLC’s holdings in AbbVie were worth $470,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of ABBV. Norges Bank acquired a new position in AbbVie in the 4th quarter valued at $4,459,385,000. GAMMA Investing LLC increased its stake in AbbVie by 25,841.6% in the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company’s stock valued at $2,144,382,000 after buying an additional 10,195,284 shares during the period. Raymond James Financial Inc. acquired a new position in AbbVie in the 4th quarter valued at $1,190,951,000. FMR LLC increased its stake in AbbVie by 32.8% in the 4th quarter. FMR LLC now owns 18,097,375 shares of the company’s stock valued at $3,215,903,000 after buying an additional 4,466,971 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in AbbVie by 15.1% in the 4th 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 during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.08% of the stock is owned by insiders.

AbbVie Price Performance

AbbVie stock opened at $185.53 on Wednesday. The firm has a market capitalization of $327.73 billion, a PE ratio of 78.95, a P/E/G ratio of 1.22 and a beta of 0.50. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The firm’s 50-day simple moving average is $185.46 and its 200 day simple moving average is $187.82. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.31 EPS. On average, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.54%. AbbVie’s dividend payout ratio (DPR) is 279.15%.

Analyst Ratings Changes

ABBV has been the topic of several research analyst reports. Bank of America boosted their target price on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a research report on Monday, June 9th. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Guggenheim boosted their target price on shares of AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Cantor Fitzgerald initiated coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 target price on the stock. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

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.