AG2R LA Mondiale Gestion D Actifs Boosts Stock Position in AbbVie Inc. $ABBV

AG2R LA Mondiale Gestion D Actifs boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,921 shares of the company’s stock after acquiring an additional 764 shares during the quarter. AbbVie accounts for approximately 0.6% of AG2R LA Mondiale Gestion D Actifs’ investment portfolio, making the stock its 24th biggest position. AG2R LA Mondiale Gestion D Actifs’ holdings in AbbVie were worth $12,236,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of ABBV. FF Advisors LLC boosted its position in AbbVie by 3.6% during the 2nd quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock valued at $286,000 after purchasing an additional 53 shares during the period. Private Management Group Inc. lifted its stake in AbbVie by 1.9% in the first quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock valued at $616,000 after buying an additional 54 shares during the last quarter. LifeSteps Financial Inc. grew its position in shares of AbbVie by 0.7% during the second quarter. LifeSteps Financial Inc. now owns 7,358 shares of the company’s stock worth $1,366,000 after acquiring an additional 54 shares during the last quarter. Silicon Valley Capital Partners increased its holdings in shares of AbbVie by 10.8% in the 1st quarter. Silicon Valley Capital Partners now owns 573 shares of the company’s stock worth $118,000 after acquiring an additional 56 shares during the period. Finally, Seneca House Advisors lifted its position in AbbVie by 2.7% in the 2nd quarter. Seneca House Advisors now owns 2,093 shares of the company’s stock valued at $388,000 after purchasing an additional 56 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Nicholas Donoghoe sold 13,295 shares of the company’s 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 completion of the sale, the executive vice president directly owned 58,247 shares of the company’s stock, valued at $11,562,611.97. This represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total value of $8,407,055.40. Following the completion of the transaction, the executive vice president directly owned 177,292 shares in the company, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on ABBV. Wall Street Zen upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Saturday. JPMorgan Chase & Co. increased their price objective on AbbVie from $200.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Erste Group Bank downgraded AbbVie from a “buy” rating to a “hold” rating in a research note on Tuesday, October 14th. Raymond James Financial reissued an “outperform” rating and issued a $250.00 price target (up previously from $236.00) on shares of AbbVie in a research note on Friday, October 17th. Finally, Wells Fargo & Company upped their price objective on shares of AbbVie from $240.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $234.80.

AbbVie Price Performance

Shares of AbbVie stock opened at $228.06 on Friday. AbbVie Inc. has a 52 week low of $163.81 and a 52 week high of $244.81. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The company’s 50-day moving average price is $220.69 and its two-hundred day moving average price is $198.94. The stock has a market cap of $402.87 billion, a PE ratio of 108.60, a price-to-earnings-growth ratio of 1.44 and a beta of 0.51.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.93 billion. During the same period in the prior year, the firm earned $2.65 EPS. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Wednesday, October 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $6.56 annualized dividend and a dividend yield of 2.9%. AbbVie’s dividend payout ratio is currently 312.38%.

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.