MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $14.68 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,757 shares of the company’s stock after buying an additional 1,720 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in AbbVie were worth $14,684,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ABBV. Moneta Group Investment Advisors LLC boosted its stake in AbbVie by 89,097.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 29,203,106 shares of the company’s stock valued at $4,719,514,000 after buying an additional 29,170,366 shares in the last quarter. Norges Bank acquired a new stake in AbbVie in the fourth quarter valued at about $3,033,348,000. Massachusetts Financial Services Co. MA boosted its stake in AbbVie by 29,922.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company’s stock valued at $899,186,000 after buying an additional 6,012,281 shares in the last quarter. Morgan Stanley raised its position in AbbVie by 17.9% in the fourth quarter. Morgan Stanley now owns 31,571,750 shares of the company’s stock valued at $5,102,311,000 after purchasing an additional 4,785,277 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in AbbVie by 426.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,652,122 shares of the company’s stock valued at $754,155,000 after purchasing an additional 3,768,579 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Raymond James increased their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Barclays increased their target price on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday. Guggenheim raised their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. BMO Capital Markets raised their price objective on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Truist Financial raised their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $177.43.

AbbVie Stock Up 1.0 %

AbbVie stock traded up $1.75 during mid-day trading on Friday, reaching $182.10. The stock had a trading volume of 5,418,687 shares, compared to its average volume of 6,578,465. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.76 and a current ratio of 0.87. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The stock’s 50-day simple moving average is $174.89 and its 200-day simple moving average is $158.13. The firm has a market capitalization of $322.44 billion, a PE ratio of 66.70, a price-to-earnings-growth ratio of 2.29 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.03. The company had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. AbbVie’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.60 earnings per share. On average, sell-side analysts forecast that AbbVie Inc. will post 11.15 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.40%. AbbVie’s dividend payout ratio is currently 227.11%.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was 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 of the company’s stock, valued at $1,233,546.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the sale, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the sale, 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 quarter, insiders have sold 383,324 shares of company stock valued at $67,780,003. Insiders own 0.25% of the company’s stock.

AbbVie 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.