Pensionfund DSM Netherlands Makes New $4.08 Million Investment in AbbVie Inc (NYSE:ABBV)

Pensionfund DSM Netherlands purchased a new position in shares of AbbVie Inc (NYSE:ABBV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 56,100 shares of the company’s stock, valued at approximately $4,080,000. AbbVie accounts for 0.7% of Pensionfund DSM Netherlands’ investment portfolio, making the stock its 25th biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABBV. Northern Trust Corp increased its holdings in shares of AbbVie by 1.1% in the 4th quarter. Northern Trust Corp now owns 21,029,665 shares of the company’s stock valued at $1,938,725,000 after acquiring an additional 227,408 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of AbbVie by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 17,582,527 shares of the company’s stock valued at $1,617,957,000 after acquiring an additional 880,288 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of AbbVie by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 15,921,433 shares of the company’s stock valued at $1,467,797,000 after acquiring an additional 41,680 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of AbbVie by 4,385.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 15,195,586 shares of the company’s stock valued at $165,000 after acquiring an additional 14,856,786 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of AbbVie in the 4th quarter valued at about $1,300,469,000. Institutional investors own 68.36% of the company’s stock.

In related news, Director Roxanne S. Austin acquired 11,500 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was bought at an average cost of $67.50 per share, with a total value of $776,250.00. Following the transaction, the director now owns 52,114 shares of the company’s stock, valued at $3,517,695. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William J. Chase acquired 30,400 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were bought at an average cost of $67.30 per share, with a total value of $2,045,920.00. Following the completion of the transaction, the executive vice president now directly owns 169,552 shares in the company, valued at approximately $11,410,849.60. The disclosure for this purchase can be found here. 0.08% of the stock is owned by corporate insiders.

Shares of NYSE ABBV traded down $0.27 during trading hours on Tuesday, reaching $67.73. The stock had a trading volume of 7,302,325 shares, compared to its average volume of 7,735,432. The stock has a market capitalization of $101.32 billion, a price-to-earnings ratio of 8.56, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. AbbVie Inc has a fifty-two week low of $65.06 and a fifty-two week high of $100.23. The business’s 50-day simple moving average is $73.98.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, April 25th. The company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.08. The firm had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $7.81 billion. AbbVie had a negative return on equity of 221.09% and a net margin of 16.42%. The business’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.87 EPS. Research analysts forecast that AbbVie Inc will post 8.82 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a $1.07 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 6.32%. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.

ABBV has been the topic of a number of recent analyst reports. Svb Leerink upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price objective on the stock in a report on Wednesday, June 26th. Leerink Swann upgraded AbbVie to a “buy” rating in a report on Tuesday, July 2nd. Zacks Investment Research downgraded Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, April 5th. Goldman Sachs Group set a $27.00 price objective on Melco Resorts & Entertainment and gave the company a “buy” rating in a report on Tuesday, May 28th. Finally, Citigroup reissued a “hold” rating on shares of AbbVie in a research report on Wednesday, June 26th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $94.76.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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