ASR Vermogensbeheer N.V. Buys Shares of 181,602 AbbVie Inc. (NYSE:ABBV)

by · The Cerbat Gem

ASR Vermogensbeheer N.V. bought a new stake in AbbVie Inc. (NYSE:ABBV – Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 181,602 shares of the company’s stock, valued at approximately $38,050,000.

Several other hedge funds also recently modified their holdings of the company. Abound Financial LLC bought a new position in AbbVie during the 1st quarter worth $30,000. EnRich Financial Partners LLC raised its position in AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after purchasing an additional 110 shares during the last quarter. Cypress Capital Management LLC WY bought a new position in AbbVie during the 1st quarter worth $35,000. Pinney & Scofield Inc. bought a new position in AbbVie during the 4th quarter worth $36,000. Finally, Inlight Wealth Management LLC bought a new position in AbbVie during the 1st quarter worth $42,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Raymond James Financial raised their target price on AbbVie from $227.00 to $236.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Cantor Fitzgerald initiated coverage on AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 target price for the company. Bank of America lifted their price objective on AbbVie to $204.00 and gave the stock a “hold” rating in a research report on Monday, June 9th. Citigroup lifted their price objective on AbbVie to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, June 11th. Finally, Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $212.81.

Check Out Our Latest Stock Analysis on AbbVie

AbbVie Price Performance

ABBV stock opened at $198.53 on Wednesday. The company has a market capitalization of $350.68 billion, a P/E ratio of 94.54, a price-to-earnings-growth ratio of 1.26 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. AbbVie Inc. has a 52-week low of $163.81 and a 52-week high of $218.66. The business has a 50-day simple moving average of $188.86 and a two-hundred day simple moving average of $190.65.

AbbVie (NYSE:ABBV – Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.24 by ($0.27). The company had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a net margin of 6.45% and a return on equity of 518.10%. AbbVie’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.65 EPS. Research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders 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 annualized dividend and a dividend yield of 3.3%. AbbVie’s dividend payout ratio is currently 312.38%.

About AbbVie

(Free Report)

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.

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