Meitav Dash Investments Ltd. Takes Position in AbbVie Inc. (NYSE:ABBV)

Financial News Live · Aug 8, 2022 02:42

Meitav Dash Investments Ltd. purchased a new position in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 9,741 shares of the company's stock, valued at approximately $1,579,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. lifted its position in AbbVie by 1.1% during the fourth quarter. BlackRock Inc. now owns 128,197,554 shares of the company's stock worth $17,357,949,000 after acquiring an additional 1,358,115 shares during the last quarter. State Street Corp lifted its position in AbbVie by 3.4% during the fourth quarter. State Street Corp now owns 79,357,705 shares of the company's stock worth $10,745,033,000 after acquiring an additional 2,597,076 shares during the last quarter. Geode Capital Management LLC lifted its position in AbbVie by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 28,518,946 shares of the company's stock worth $3,850,573,000 after acquiring an additional 758,354 shares during the last quarter. Norges Bank acquired a new stake in AbbVie during the fourth quarter worth approximately $2,433,269,000. Finally, Nuveen Asset Management LLC raised its position in shares of AbbVie by 12.2% in the fourth quarter. Nuveen Asset Management LLC now owns 16,331,749 shares of the company's stock valued at $2,211,319,000 after buying an additional 1,771,090 shares in the last quarter. Institutional investors own 67.03% of the company's stock.

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Analyst Ratings Changes

Several research analysts have commented on ABBV shares. Piper Sandler lowered their price objective on shares of AbbVie from $160.00 to $155.00 in a research report on Friday, July 29th. The Goldman Sachs Group boosted their price objective on shares of AbbVie from $122.00 to $140.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 12th. SVB Leerink assumed coverage on shares of AbbVie in a report on Monday, May 23rd. They issued an "underperform" rating and a $140.00 target price on the stock. Morgan Stanley dropped their price objective on shares of AbbVie from $191.00 to $188.00 and set an "overweight" rating on the stock in a report on Monday, August 1st. Finally, Wells Fargo & Company upped their price objective on shares of AbbVie from $165.00 to $200.00 in a report on Monday, May 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $160.50.

AbbVie Stock Performance

AbbVie stock opened at $138.04 on Friday. The firm's fifty day moving average price is $147.52 and its 200-day moving average price is $150.16. The company has a debt-to-equity ratio of 3.89, a quick ratio of 0.71 and a current ratio of 0.82. The stock has a market cap of $243.93 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 3.87 and a beta of 0.70. AbbVie Inc. has a fifty-two week low of $105.56 and a fifty-two week high of $175.91.

AbbVie (NYSE:ABBV – Get Rating) last posted its quarterly earnings data on Friday, July 29th. The company reported $3.37 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.06. The firm had revenue of $14.58 billion for the quarter, compared to analysts' expectations of $14.64 billion. AbbVie had a net margin of 22.03% and a return on equity of 157.31%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company posted $3.11 EPS. On average, equities research analysts expect that AbbVie Inc. will post 14.05 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 15th will be issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 4.09%. The ex-dividend date is Thursday, July 14th. AbbVie's dividend payout ratio is currently 79.89%.

Insider Activity at AbbVie

In other AbbVie news, EVP Henry O. Gosebruch sold 83,960 shares of the firm's stock in a transaction on Monday, May 16th. The shares were sold at an average price of $155.00, for a total value of $13,013,800.00. Following the sale, the executive vice president now owns 16,623 shares of the company's stock, valued at approximately $2,576,565. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other AbbVie news, Vice Chairman Michael Severino sold 100,000 shares of the firm's stock in a transaction on Monday, May 9th. The shares were sold at an average price of $150.28, for a total value of $15,028,000.00. Following the sale, the insider now owns 152,103 shares of the company's stock, valued at approximately $22,858,038.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Henry O. Gosebruch sold 83,960 shares of AbbVie stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $155.00, for a total transaction of $13,013,800.00. Following the sale, the executive vice president now directly owns 16,623 shares in the company, valued at approximately $2,576,565. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 363,761 shares of company stock valued at $55,528,771. Insiders own 0.08% of the company's stock.

AbbVie Profile

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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.