AbbVie Inc. (NYSE:ABBV) Shares Purchased by Todd Asset Management LLC

Todd Asset Management LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 0.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 230,851 shares of the company’s stock after purchasing an additional 1,475 shares during the quarter. AbbVie comprises approximately 1.1% of Todd Asset Management LLC’s investment portfolio, making the stock its 27th biggest holding. Todd Asset Management LLC’s holdings in AbbVie were worth $48,368,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Crestline Management LP raised its holdings in shares of AbbVie by 438.4% during the 4th quarter. Crestline Management LP now owns 35,311 shares of the company’s stock valued at $6,275,000 after purchasing an additional 28,753 shares in the last quarter. Narus Financial Partners LLC grew its position in AbbVie by 25.3% in the 1st quarter. Narus Financial Partners LLC now owns 1,988 shares of the company’s stock worth $417,000 after purchasing an additional 401 shares during the last quarter. Dimensional Fund Advisors LP grew its position in AbbVie by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock worth $1,664,489,000 after purchasing an additional 108,993 shares during the last quarter. AXA S.A. boosted its position in shares of AbbVie by 14.8% during the 4th quarter. AXA S.A. now owns 971,893 shares of the company’s stock valued at $172,705,000 after acquiring an additional 125,568 shares in the last quarter. Finally, Highland Capital Management LLC boosted its position in shares of AbbVie by 6.3% during the 1st quarter. Highland Capital Management LLC now owns 46,853 shares of the company’s stock valued at $9,817,000 after acquiring an additional 2,792 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on ABBV shares. Guggenheim lifted their target price on shares of AbbVie from $216.00 to $227.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Morgan Stanley lifted their target price on shares of AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Evercore ISI lifted their target price on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, April 28th. Cantor Fitzgerald started coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price target on the stock. Finally, Bank of America boosted their price target on shares of AbbVie to $204.00 and gave the company a “hold” rating in a research report on Monday, June 9th. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $214.43.

AbbVie Trading Down 0.4%

ABBV opened at $198.10 on Monday. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The company has a market cap of $349.96 billion, a price-to-earnings ratio of 94.33, a price-to-earnings-growth ratio of 1.27 and a beta of 0.50. The firm has a 50 day simple moving average of $189.65 and a 200 day simple moving average of $191.35. AbbVie Inc. has a fifty-two week low of $163.81 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The business had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the firm earned $2.65 earnings per share. On average, sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.3%. AbbVie’s payout ratio is currently 312.38%.

Insider Transactions at AbbVie

In related news, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total transaction of $2,639,190.45. Following the completion of the transaction, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.08% of the company’s stock.

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.