Commerzbank Aktiengesellschaft FI Acquires 19,291 Shares of AbbVie Inc. (NYSE:ABBV)

Commerzbank Aktiengesellschaft FI boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 51.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,484 shares of the company’s stock after acquiring an additional 19,291 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in AbbVie were worth $9,953,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Groupama Asset Managment grew its stake in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in AbbVie during the 3rd quarter worth about $28,000. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie in the 4th quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at about $31,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of AbbVie during the fourth quarter worth about $35,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

ABBV opened at $211.27 on Tuesday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $212.30. The company has a market cap of $372.97 billion, a price-to-earnings ratio of 88.03, a PEG ratio of 1.62 and a beta of 0.58. The company’s fifty day moving average price is $185.08 and its two-hundred day moving average price is $187.04. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period in the previous year, the business earned $2.79 earnings per share. On average, analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.11%. AbbVie’s dividend payout ratio (DPR) is currently 273.33%.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,439 shares of company stock valued at $11,377,057. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ABBV has been the topic of several analyst reports. UBS Group upped their target price on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Wells Fargo & Company lifted their target price on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Truist Financial upped their price target on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Guggenheim lifted their price objective on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

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.