AbbVie Inc. (NYSE:ABBV) Shares Acquired by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich increased its holdings in AbbVie Inc. (NYSE:ABBV) by 28.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,842 shares of the company’s stock after acquiring an additional 8,460 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in AbbVie were worth $5,864,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. State of New Jersey Common Pension Fund D increased its holdings in AbbVie by 0.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 1,005,711 shares of the company’s stock valued at $155,855,000 after buying an additional 2,735 shares during the last quarter. Syon Capital LLC grew its holdings in shares of AbbVie by 43.6% during the fourth quarter. Syon Capital LLC now owns 16,334 shares of the company’s stock valued at $2,531,000 after purchasing an additional 4,962 shares during the last quarter. Meritage Portfolio Management grew its holdings in shares of AbbVie by 24.2% during the fourth quarter. Meritage Portfolio Management now owns 4,558 shares of the company’s stock valued at $706,000 after purchasing an additional 888 shares during the last quarter. Pittenger & Anderson Inc. grew its holdings in shares of AbbVie by 117.7% during the fourth quarter. Pittenger & Anderson Inc. now owns 20,305 shares of the company’s stock valued at $3,147,000 after purchasing an additional 10,976 shares during the last quarter. Finally, Disciplined Equity Management Inc. bought a new position in shares of AbbVie during the fourth quarter valued at approximately $77,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,324 shares of company stock worth $67,780,003. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of AbbVie stock opened at $159.62 on Friday. The stock has a market cap of $282.63 billion, a PE ratio of 58.47, a price-to-earnings-growth ratio of 2.13 and a beta of 0.58. The business has a fifty day simple moving average of $174.59 and a 200-day simple moving average of $160.74. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, April 26th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.20 by $0.11. The business had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. AbbVie’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.46 earnings per share. On average, sell-side analysts anticipate that AbbVie Inc. will post 11.19 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.88%. AbbVie’s dividend payout ratio is 227.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ABBV shares. BMO Capital Markets upped their target price on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Guggenheim increased their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Raymond James increased their price target on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Barclays increased their price target on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Finally, William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $177.43.

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.