Czech National Bank Boosts Stake in AbbVie Inc. (NYSE:ABBV)

Czech National Bank boosted its position in AbbVie Inc. (NYSE:ABBV) by 6.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 359,823 shares of the company’s stock after purchasing an additional 23,320 shares during the period. AbbVie makes up approximately 0.7% of Czech National Bank’s investment portfolio, making the stock its 22nd biggest holding. Czech National Bank’s holdings in AbbVie were worth $71,058,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ABBV. Frisch Financial Group Inc. boosted its position in shares of AbbVie by 0.8% during the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after purchasing an additional 53 shares during the period. Capital Advisors Ltd. LLC raised its holdings in shares of AbbVie by 1.3% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 4,453 shares of the company’s stock valued at $764,000 after buying an additional 55 shares during the period. Hilltop Partners LLC lifted its stake in AbbVie by 1.4% during the 2nd quarter. Hilltop Partners LLC now owns 3,859 shares of the company’s stock worth $662,000 after acquiring an additional 55 shares in the last quarter. Longfellow Investment Management Co. LLC boosted its holdings in AbbVie by 1.0% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 5,622 shares of the company’s stock valued at $964,000 after acquiring an additional 58 shares during the period. Finally, RAM Investment Partners LLC grew its position in AbbVie by 1.1% in the 2nd quarter. RAM Investment Partners LLC now owns 5,219 shares of the company’s stock valued at $895,000 after acquiring an additional 59 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the transaction, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the sale, the chairman now directly owns 513,099 shares of the company’s stock, valued at $89,792,325. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the transaction, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $195.38 on Friday. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $199.95. The firm has a market capitalization of $345.02 billion, a P/E ratio of 57.98, a P/E/G ratio of 2.65 and a beta of 0.64. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The company’s fifty day moving average price is $193.17 and its 200 day moving average price is $176.74.

AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.91 earnings per share. As a group, sell-side analysts predict that AbbVie Inc. will post 10.86 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 15th. Investors of record on Tuesday, October 15th will be given a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.17%. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Analyst Ratings Changes

A number of research analysts recently weighed in on ABBV shares. Piper Sandler Companies restated an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a report on Wednesday, July 3rd. Truist Financial reaffirmed a “buy” rating and set a $210.00 price objective (up previously from $195.00) on shares of AbbVie in a research report on Friday, July 26th. Wells Fargo & Company lifted their target price on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Barclays upped their price target on AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, William Blair upgraded AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $191.64.

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.