Czech National Bank Has $68.09 Million Stake in AbbVie Inc. (NYSE:ABBV)

Czech National Bank increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 6.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 383,151 shares of the company’s stock after purchasing an additional 23,328 shares during the quarter. AbbVie makes up approximately 0.6% of Czech National Bank’s portfolio, making the stock its 24th largest position. Czech National Bank’s holdings in AbbVie were worth $68,086,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. HBW Advisory Services LLC lifted its stake in shares of AbbVie by 2.7% in the 4th quarter. HBW Advisory Services LLC now owns 7,412 shares of the company’s stock valued at $1,317,000 after purchasing an additional 198 shares during the last quarter. Sage Capital Advisors llc raised its position in shares of AbbVie by 0.7% in the fourth quarter. Sage Capital Advisors llc now owns 22,616 shares of the company’s stock valued at $4,019,000 after purchasing an additional 161 shares during the period. LVM Capital Management Ltd. MI lifted its stake in shares of AbbVie by 4.4% in the fourth quarter. LVM Capital Management Ltd. MI now owns 163,273 shares of the company’s stock worth $29,014,000 after buying an additional 6,892 shares during the last quarter. CCM Investment Advisers LLC boosted its holdings in shares of AbbVie by 1.7% during the 4th quarter. CCM Investment Advisers LLC now owns 82,244 shares of the company’s stock worth $14,615,000 after buying an additional 1,371 shares during the period. Finally, ORG Wealth Partners LLC grew its stake in AbbVie by 13.9% in the 4th quarter. ORG Wealth Partners LLC now owns 14,808 shares of the company’s stock valued at $2,632,000 after buying an additional 1,812 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ABBV shares. Piper Sandler increased their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. dropped their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. UBS Group increased their price target on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.50.

AbbVie Trading Down 1.9 %

NYSE:ABBV opened at $175.18 on Monday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The business’s 50-day simple moving average is $178.47 and its 200-day simple moving average is $184.55. The stock has a market capitalization of $309.57 billion, a PE ratio of 60.83, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.95 EPS. Sell-side analysts expect that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.74%. AbbVie’s payout ratio is 227.78%.

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.