AbbVie Inc. $ABBV Shares Acquired by Cardano Risk Management B.V.

by · The Markets Daily

Cardano Risk Management B.V. boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 6.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 524,041 shares of the company’s stock after purchasing an additional 30,204 shares during the period. AbbVie makes up approximately 1.2% of Cardano Risk Management B.V.’s holdings, making the stock its 25th biggest position. Cardano Risk Management B.V.’s holdings in AbbVie were worth $97,272,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ABBV. Nuveen LLC acquired a new stake in AbbVie during the first quarter valued at approximately $1,819,154,000. Assenagon Asset Management S.A. lifted its stake in AbbVie by 550.9% during the second quarter. Assenagon Asset Management S.A. now owns 4,332,054 shares of the company’s stock valued at $804,116,000 after purchasing an additional 3,666,521 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in AbbVie by 31.6% during the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after purchasing an additional 3,519,187 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in AbbVie during the second quarter valued at approximately $581,817,000. Finally, Bessemer Group Inc. lifted its stake in AbbVie by 147.6% during the first quarter. Bessemer Group Inc. now owns 2,752,953 shares of the company’s stock valued at $576,800,000 after purchasing an additional 1,641,091 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the 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. This represents a 19.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas Donoghoe sold 13,295 shares of the 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 transaction, the executive vice president owned 58,247 shares in the company, valued at approximately $11,562,611.97. This trade represents a 18.58% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ABBV. HSBC set a $225.00 target price on shares of AbbVie in a research note on Thursday, October 2nd. Morgan Stanley upped their price target 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. Hsbc Global Res downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 1st. Raymond James Financial restated an “outperform” rating on shares of AbbVie in a research report on Monday, August 25th. Finally, UBS Group set a $251.00 price target on shares of AbbVie in a research report on Friday, October 3rd. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $229.38.

View Our Latest Research Report on AbbVie

AbbVie Stock Down 0.1%

ABBV stock opened at $231.03 on Friday. AbbVie Inc. has a 12-month low of $163.81 and a 12-month 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 company has a market cap of $408.13 billion, a price-to-earnings ratio of 110.01, a PEG ratio of 1.35 and a beta of 0.51. The company has a 50 day moving average of $214.12 and a two-hundred day moving average of $196.58.

AbbVie (NYSE:ABBV – Get Free Report) last released its 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). 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 analysts’ expectations of $14.93 billion. During the same quarter in the previous year, the company earned $2.65 EPS. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be paid a dividend of $1.64 per share. The ex-dividend date is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. AbbVie’s dividend payout ratio is 312.38%.

AbbVie Profile

(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.

See Also

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