159,619 Shares in AbbVie Inc. $ABBV Acquired by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in AbbVie Inc. (NYSE:ABBVFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 159,619 shares of the company’s stock, valued at approximately $36,471,000. AbbVie makes up about 1.3% of Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings, making the stock its 11th largest holding.

A number of other large investors have also made changes to their positions in ABBV. Brighton Jones LLC increased its position in shares of AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after purchasing an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after buying an additional 3,064 shares during the last quarter. Schnieders Capital Management LLC. grew its holdings in shares of AbbVie by 5.0% during the second quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock valued at $3,056,000 after buying an additional 789 shares during the last quarter. Ieq Capital LLC grew its holdings in shares of AbbVie by 4.6% during the second quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock valued at $22,281,000 after buying an additional 5,274 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC grew its holdings in shares of AbbVie by 117.3% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock valued at $210,685,000 after buying an additional 612,702 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ABBV. Bank of America raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price objective on the stock in a report on Thursday, April 30th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of AbbVie in a report on Thursday, February 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $223.00 price target on shares of AbbVie in a report on Wednesday, January 28th. Royal Bank Of Canada started coverage on shares of AbbVie in a report on Tuesday, February 24th. They issued an “outperform” rating and a $260.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $240.00 price target on shares of AbbVie in a report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $253.43.

View Our Latest Stock Analysis on ABBV

AbbVie Stock Up 2.1%

ABBV stock opened at $213.77 on Wednesday. The company’s 50-day simple moving average is $209.49 and its 200-day simple moving average is $219.84. AbbVie Inc. has a 52-week low of $180.25 and a 52-week high of $244.81. The firm has a market cap of $377.69 billion, a P/E ratio of 105.31, a PEG ratio of 0.72 and a beta of 0.32.

AbbVie (NYSE:ABBVGet Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. During the same period in the prior year, the company posted $2.46 EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, analysts anticipate that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Wednesday, April 15th were given a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Wednesday, April 15th. AbbVie’s dividend payout ratio is 340.89%.

Insider Activity

In related news, SVP David Ryan Purdue sold 5,230 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the completion of the transaction, the senior vice president owned 2,654 shares in the company, valued at $619,868.24. This represents a 66.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Perry C. Siatis sold 22,381 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $230.00, for a total transaction of $5,147,630.00. Following the transaction, the executive vice president owned 38,137 shares of the company’s stock, valued at approximately $8,771,510. This trade represents a 36.98% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.06% of the stock is owned by corporate insiders.

AbbVie News Summary

Here are the key news stories impacting AbbVie this week:

About AbbVie

(Free Report)

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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