Generali Investments CEE investicni spolecnost a.s. Buys 655 Shares of AbbVie Inc. $ABBV

Generali Investments CEE investicni spolecnost a.s. raised its holdings in AbbVie Inc. (NYSE:ABBV) by 1.7% during the second quarter, Holdings Channel reports. The institutional investor owned 38,514 shares of the company’s stock after buying an additional 655 shares during the quarter. Generali Investments CEE investicni spolecnost a.s.’s holdings in AbbVie were worth $7,149,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ABBV. FF Advisors LLC grew its position in shares of AbbVie by 3.6% in the 2nd quarter. FF Advisors LLC now owns 1,539 shares of the company’s stock worth $286,000 after buying an additional 53 shares during the period. Private Management Group Inc. boosted its stake in AbbVie by 1.9% in the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company’s stock worth $616,000 after purchasing an additional 54 shares in the last quarter. Silicon Valley Capital Partners boosted its stake in 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 purchasing an additional 56 shares in the last quarter. Seneca House Advisors boosted its stake in AbbVie by 2.7% in the 2nd quarter. Seneca House Advisors now owns 2,093 shares of the company’s stock worth $388,000 after purchasing an additional 56 shares in the last quarter. Finally, Castle Wealth Management LLC boosted its stake in AbbVie by 3.4% in the 1st quarter. Castle Wealth Management LLC now owns 1,725 shares of the company’s stock worth $361,000 after purchasing an additional 57 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Activity at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $198.42, for a total value of $8,407,055.40. Following the transaction, the executive vice president owned 177,292 shares in the company, valued at $35,178,278.64. This represents a 19.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nicholas Donoghoe sold 13,295 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 58,247 shares in the company, valued at $11,562,611.97. This trade represents a 18.58% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. BMO Capital Markets upped their price target on shares of AbbVie from $215.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, September 12th. Berenberg Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating and upped their price target for the stock from $170.00 to $270.00 in a research note on Wednesday, September 17th. Evercore ISI upped their price target on shares of AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Guggenheim upped their price target on shares of AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Finally, Morgan Stanley upped their price target on shares of AbbVie from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $223.45.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $231.47 on Wednesday. The firm’s 50 day moving average price is $207.89 and its 200-day moving average price is $195.37. AbbVie Inc. has a twelve month low of $163.81 and a twelve month high of $232.35. The company has a quick ratio of 0.61, a current ratio of 0.74 and a debt-to-equity ratio of 44.14. The stock has a market capitalization of $408.91 billion, a PE ratio of 110.22, a price-to-earnings-growth ratio of 1.31 and a beta of 0.53.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share 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 the consensus estimate of $14.93 billion. During the same quarter last year, the company earned $2.65 EPS. AbbVie’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Wednesday, October 15th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, October 15th. AbbVie’s dividend payout ratio is 312.38%.

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.