Bokf Na Boosts Holdings in AbbVie Inc. (NYSE:ABBV)

Bokf Na raised its stake in AbbVie Inc. (NYSE:ABBV) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 264,930 shares of the company’s stock after acquiring an additional 5,003 shares during the quarter. AbbVie makes up 0.8% of Bokf Na’s holdings, making the stock its 24th biggest position. Bokf Na’s holdings in AbbVie were worth $45,441,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in AbbVie by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after acquiring an additional 9,978,415 shares during the period. Capital International Investors raised its position in shares of AbbVie by 6.9% in the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock valued at $8,758,789,000 after purchasing an additional 3,110,601 shares during the period. Capital Research Global Investors raised its position in shares of AbbVie by 3.3% in the first quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock valued at $5,698,847,000 after purchasing an additional 992,496 shares during the period. Norges Bank purchased a new stake in shares of AbbVie during the 4th quarter valued at approximately $3,229,888,000. Finally, Janus Henderson Group PLC grew its stake in AbbVie by 12.8% in the 1st quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock valued at $1,984,490,000 after buying an additional 1,240,434 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Transactions at AbbVie

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the sale, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the transaction, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the sale, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ABBV. Barclays increased their target price on AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Truist Financial restated a “buy” rating and issued a $210.00 target price (up previously from $195.00) on shares of AbbVie in a research note on Friday, July 26th. Piper Sandler Companies restated an “overweight” rating and issued a $190.00 price objective on shares of AbbVie in a research report on Wednesday, July 3rd. BMO Capital Markets upped their target price on shares of AbbVie from $180.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Finally, Piper Sandler raised their price target on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie has a consensus rating of “Buy” and an average target price of $191.64.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $194.59 on Thursday. The stock’s 50-day moving average is $185.68 and its 200 day moving average is $175.02. The stock has a market cap of $343.62 billion, a price-to-earnings ratio of 57.74, a P/E/G ratio of 2.64 and a beta of 0.64. AbbVie Inc. has a 1-year low of $135.85 and a 1-year high of $199.95. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. During the same period last year, the firm posted $2.91 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. On average, sell-side analysts anticipate that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.19%. AbbVie’s dividend payout ratio (DPR) is currently 183.98%.

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.