Intact Investment Management Inc. Boosts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Intact Investment Management Inc. boosted its position in AbbVie Inc. (NYSE:ABBV) by 95.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,430 shares of the company’s stock after purchasing an additional 50,430 shares during the period. Intact Investment Management Inc.’s holdings in AbbVie were worth $17,740,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ABBV. American National Bank grew its holdings in AbbVie by 4.8% during the fourth quarter. American National Bank now owns 59,392 shares of the company’s stock worth $9,204,000 after acquiring an additional 2,695 shares during the period. AXS Investments LLC grew its stake in shares of AbbVie by 3.3% during the 4th quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock worth $1,477,000 after purchasing an additional 307 shares during the period. TCI Wealth Advisors Inc. increased its holdings in shares of AbbVie by 1.0% in the 4th quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock valued at $2,641,000 after purchasing an additional 165 shares in the last quarter. Mizuho Markets Americas LLC increased its holdings in shares of AbbVie by 33.4% in the 4th quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock valued at $4,791,000 after purchasing an additional 7,737 shares in the last quarter. Finally, West Coast Financial LLC lifted its stake in shares of AbbVie by 9.7% in the first quarter. West Coast Financial LLC now owns 1,578 shares of the company’s stock valued at $287,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ABBV. BMO Capital Markets increased their target price on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, July 19th. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Wednesday, June 5th. Truist Financial restated a “buy” rating and set a $210.00 target price (up from $195.00) on shares of AbbVie in a report on Friday, July 26th. Morgan Stanley raised their price objective on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $191.64.

Insider Buying and Selling at AbbVie

In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was 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 approximately $83,299,645.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the transaction, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares of the company’s stock, 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 Trading Up 0.6 %

NYSE ABBV opened at $196.31 on Friday. The company has a market cap of $346.66 billion, a P/E ratio of 58.25, a P/E/G ratio of 2.49 and a beta of 0.64. AbbVie Inc. has a 12 month low of $135.85 and a 12 month high of $198.30. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The company has a 50-day moving average of $181.44 and a 200-day moving average of $173.93.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 186.82%. AbbVie’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.91 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 10.87 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

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.