Generali Asset Management SPA SGR Buys 245 Shares of AbbVie Inc. $ABBV

Generali Asset Management SPA SGR boosted its position in AbbVie Inc. (NYSE:ABBV) by 0.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 84,294 shares of the company’s stock after purchasing an additional 245 shares during the quarter. Generali Asset Management SPA SGR’s holdings in AbbVie were worth $15,647,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Conning Inc. raised its stake in AbbVie by 7.1% in the second quarter. Conning Inc. now owns 191,023 shares of the company’s stock valued at $35,458,000 after buying an additional 12,690 shares during the last quarter. Dohj LLC increased its holdings in shares of AbbVie by 41.8% during the second quarter. Dohj LLC now owns 4,529 shares of the company’s stock valued at $802,000 after acquiring an additional 1,335 shares in the last quarter. First Hawaiian Bank raised its position in shares of AbbVie by 0.8% in the 2nd quarter. First Hawaiian Bank now owns 7,556 shares of the company’s stock valued at $1,403,000 after purchasing an additional 60 shares during the last quarter. Narus Financial Partners LLC boosted its stake 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 in the last quarter. Finally, BankPlus Trust Department grew its position in AbbVie by 3.3% during the 2nd quarter. BankPlus Trust Department now owns 27,113 shares of the company’s stock worth $5,033,000 after purchasing an additional 855 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Performance

Shares of ABBV stock opened at $229.19 on Wednesday. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $244.81. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The stock has a market cap of $404.88 billion, a PE ratio of 109.14, a price-to-earnings-growth ratio of 1.47 and a beta of 0.51. The business has a 50-day simple moving average of $216.12 and a 200-day simple moving average of $197.12.

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

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Wednesday, October 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 dividend on an annualized basis and a yield of 2.9%. AbbVie’s dividend payout ratio is 312.38%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ABBV. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a report on Wednesday, October 8th. BMO Capital Markets upped their target price on AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. Piper Sandler lifted their price target on AbbVie from $231.00 to $284.00 and gave the stock an “overweight” rating in a research report on Friday. Wells Fargo & Company boosted their price target on AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. Finally, Erste Group Bank cut AbbVie from a “buy” rating to a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $231.90.

Insider Buying and Selling at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the transaction, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. The trade was a 19.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the company’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $198.51, for a total value of $2,639,190.45. Following the completion of the transaction, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

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.