Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Has $867,000 Holdings in AbbVie Inc. $ABBV

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 27.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,671 shares of the company’s stock after selling 1,796 shares during the quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in AbbVie were worth $867,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of AbbVie in the 1st quarter valued at $1,819,154,000. Assenagon Asset Management S.A. raised its stake in shares of AbbVie by 550.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,332,054 shares of the company’s stock valued at $804,116,000 after buying an additional 3,666,521 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of AbbVie by 31.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after buying an additional 3,519,187 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of AbbVie in the 2nd quarter valued at $581,817,000. Finally, Invesco Ltd. raised its stake in shares of AbbVie by 17.5% in the 1st quarter. Invesco Ltd. now owns 8,367,049 shares of the company’s stock valued at $1,753,064,000 after buying an additional 1,246,863 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were 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 directly owned 177,292 shares of the company’s stock, valued at approximately $35,178,278.64. The trade was a 19.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the business’s stock in a transaction dated Tuesday, August 5th. The stock was 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 directly owned 58,247 shares of the company’s stock, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

AbbVie Trading Down 0.1%

Shares of NYSE ABBV opened at $228.06 on Monday. AbbVie Inc. has a 1-year low of $163.81 and a 1-year high of $244.81. The company has a market cap of $402.87 billion, a PE ratio of 108.60, a P/E/G ratio of 1.44 and a beta of 0.51. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The company has a 50-day moving average of $220.69 and a two-hundred day moving average of $199.24.

AbbVie (NYSE:ABBV) last announced its 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). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.93 billion. During the same period in the prior year, the firm posted $2.65 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. As a group, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

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

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of recent research reports. Erste Group Bank cut shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Tuesday, October 14th. Bank of America increased their target price on shares of AbbVie from $220.00 to $251.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Guggenheim boosted their price target on shares of AbbVie from $227.00 to $242.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Wells Fargo & Company raised their price objective on shares of AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Finally, Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $234.80.

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.