Deutsche Bank AG Has $1.74 Billion Position in AbbVie Inc. (NYSE:ABBV)

Deutsche Bank AG raised its position in AbbVie Inc. (NYSE:ABBV) by 27.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,769,102 shares of the company’s stock after buying an additional 2,102,273 shares during the quarter. AbbVie makes up about 0.7% of Deutsche Bank AG’s investment portfolio, making the stock its 16th biggest holding. Deutsche Bank AG’s holdings in AbbVie were worth $1,735,969,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Crestline Management LP boosted its holdings in AbbVie by 438.4% during the fourth quarter. Crestline Management LP now owns 35,311 shares of the company’s stock worth $6,275,000 after buying an additional 28,753 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in AbbVie by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock valued at $1,664,489,000 after purchasing an additional 108,993 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of AbbVie by 35.8% during the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock worth $186,000 after purchasing an additional 276 shares in the last quarter. AXA S.A. grew its holdings in shares of AbbVie by 14.8% in the 4th quarter. AXA S.A. now owns 971,893 shares of the company’s stock valued at $172,705,000 after buying an additional 125,568 shares during the period. Finally, Sky Investment Group LLC increased its position in shares of AbbVie by 10.1% in the 4th quarter. Sky Investment Group LLC now owns 42,715 shares of the company’s stock valued at $7,590,000 after buying an additional 3,936 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. StockNews.com raised AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 28th. Citigroup increased their target price on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Evercore ISI lifted their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Truist Financial raised their price objective on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Bank of America upped their target price on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Six research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $211.41.

Insider Activity at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This represents a 52.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. This represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,471 shares of company stock worth $23,426,451. Corporate insiders own 0.08% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV opened at $187.87 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The business’s 50 day moving average price is $195.22 and its two-hundred day moving average price is $187.27. The company has a market cap of $332.34 billion, a PE ratio of 78.28, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same period in the previous year, the firm earned $2.31 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. On average, analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company 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 of this dividend is Tuesday, April 15th. This represents a $6.56 annualized dividend and a yield of 3.49%. AbbVie’s payout ratio is currently 279.15%.

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.