ASR Vermogensbeheer N.V. Has $33.69 Million Stock Holdings in AbbVie Inc. $ABBV

ASR Vermogensbeheer N.V. lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 181,519 shares of the company’s stock after selling 83 shares during the quarter. ASR Vermogensbeheer N.V.’s holdings in AbbVie were worth $33,693,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. TD Capital Management LLC raised its stake in AbbVie by 82.9% in the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Marshall & Sullivan Inc. WA acquired a new stake in AbbVie in the 2nd quarter worth about $25,000. Abound Financial LLC acquired a new stake in AbbVie in the 1st quarter worth about $30,000. Cypress Capital Management LLC WY acquired a new stake in AbbVie in the 1st quarter worth about $35,000. Finally, Inlight Wealth Management LLC acquired a new stake in AbbVie in the 1st quarter worth about $42,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nicholas Donoghoe sold 13,295 shares of the firm’s stock in a transaction on 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 sale, the executive vice president owned 58,247 shares of the company’s stock, valued at $11,562,611.97. The trade was a 18.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ABBV. Morgan Stanley boosted 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. Bank of America boosted their target price on shares of AbbVie to $204.00 and gave the company a “hold” rating in a research report on Monday, June 9th. Wells Fargo & Company boosted their target price on shares of AbbVie from $240.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Raymond James Financial restated an “outperform” rating on shares of AbbVie in a research report on Monday, August 25th. Finally, Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $223.45.

AbbVie Trading Up 5.7%

Shares of NYSE ABBV opened at $244.77 on Thursday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $244.81. The firm has a 50 day moving average price of $208.97 and a two-hundred day moving average price of $195.71. The stock has a market cap of $432.40 billion, a P/E ratio of 116.56, a price-to-earnings-growth ratio of 1.35 and a beta of 0.51.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.97 EPS for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The firm 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 company posted $2.65 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, October 15th. AbbVie’s dividend payout ratio is currently 312.38%.

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.