Daiwa Securities Group Inc. Has $34.90 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Daiwa Securities Group Inc. boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 5.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 203,493 shares of the company’s stock after buying an additional 10,904 shares during the quarter. Daiwa Securities Group Inc.’s holdings in AbbVie were worth $34,903,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ABBV. Capital Advisors Ltd. LLC lifted its holdings in AbbVie by 1.3% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 4,453 shares of the company’s stock worth $764,000 after purchasing an additional 55 shares during the last quarter. Hilltop Partners LLC lifted its stake in shares of AbbVie by 1.4% in the second quarter. Hilltop Partners LLC now owns 3,859 shares of the company’s stock worth $662,000 after buying an additional 55 shares during the last quarter. Lokken Investment Group LLC lifted its stake in shares of AbbVie by 3.6% in the fourth quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock worth $258,000 after buying an additional 58 shares during the last quarter. Longfellow Investment Management Co. LLC boosted its holdings in shares of AbbVie by 1.0% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 5,622 shares of the company’s stock worth $964,000 after buying an additional 58 shares during the period. Finally, RAM Investment Partners LLC grew its stake in AbbVie by 1.1% in the 2nd quarter. RAM Investment Partners LLC now owns 5,219 shares of the company’s stock valued at $895,000 after buying an additional 59 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the stock in a transaction dated 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 completion of the sale, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

AbbVie Price Performance

Shares of AbbVie stock opened at $196.37 on Tuesday. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The firm has a market cap of $346.86 billion, a P/E ratio of 58.27, a price-to-earnings-growth ratio of 2.64 and a beta of 0.64. The firm’s 50-day simple moving average is $184.40 and its 200-day simple moving average is $174.74.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the previous year, the business earned $2.91 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, research analysts expect that AbbVie Inc. will post 10.86 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders 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 annualized dividend and a yield of 3.16%. AbbVie’s dividend payout ratio is currently 183.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ABBV shares. BMO Capital Markets upped their price target on shares of AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. Piper Sandler lifted their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Truist Financial reissued a “buy” rating and issued a $210.00 price objective (up from $195.00) on shares of AbbVie in a research report on Friday, July 26th. Finally, Barclays boosted their target price on shares of AbbVie from $187.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, AbbVie currently has a consensus rating of “Buy” and an average price target of $191.64.

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.