Munich Reinsurance Co Stock Corp in Munich Purchases 5,727 Shares of AbbVie Inc. $ABBV

Munich Reinsurance Co Stock Corp in Munich raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 157,348 shares of the company’s stock after acquiring an additional 5,727 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in AbbVie were worth $39,595,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ABBV. PICTET BANK & TRUST Ltd grew its holdings in shares of AbbVie by 6.4% during the second quarter. PICTET BANK & TRUST Ltd now owns 9,150 shares of the company’s stock worth $2,303,000 after purchasing an additional 553 shares in the last quarter. Nicholas Wealth LLC. raised its stake in AbbVie by 6.0% in the second quarter. Nicholas Wealth LLC. now owns 6,233 shares of the company’s stock valued at $1,569,000 after purchasing an additional 351 shares in the last quarter. CrossGen Wealth LLC raised its stake in AbbVie by 9.2% in the second quarter. CrossGen Wealth LLC now owns 5,983 shares of the company’s stock valued at $1,505,000 after purchasing an additional 503 shares in the last quarter. Nilsine Partners LLC lifted its position in AbbVie by 5.4% during the second quarter. Nilsine Partners LLC now owns 10,103 shares of the company’s stock valued at $2,542,000 after purchasing an additional 521 shares during the last quarter. Finally, Naples Global Advisors LLC grew its stake in AbbVie by 0.9% in the 2nd quarter. Naples Global Advisors LLC now owns 48,122 shares of the company’s stock worth $12,109,000 after buying an additional 406 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Nicholas Donoghoe sold 32,710 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $250.00, for a total value of $8,177,500.00. Following the transaction, the executive vice president directly owned 74,430 shares in the company, valued at $18,607,500. This trade represents a 30.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ABBV shares. Citigroup upped their target price on shares of AbbVie from $230.00 to $260.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Barclays lifted their price target on AbbVie from $275.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. upped their price objective on AbbVie from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Morgan Stanley reiterated an “overweight” rating and set a $296.00 price objective on shares of AbbVie in a research report on Monday, August 3rd. Finally, Canaccord Genuity Group raised their price objective on AbbVie from $282.00 to $290.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $275.73.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $259.01 on Wednesday. The stock’s 50-day moving average is $246.17 and its 200 day moving average is $226.63. The company has a market cap of $457.63 billion, a PE ratio of 73.17, a P/E/G ratio of 0.83 and a beta of 0.30. AbbVie Inc. has a 1 year low of $190.75 and a 1 year high of $267.47.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping the consensus estimate of $3.61 by $0.04. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The business had revenue of $16.99 billion during the quarter, compared to analyst estimates of $16.80 billion. During the same period in the prior year, the business earned $2.97 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Analysts expect that AbbVie Inc. will post 14.07 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Wednesday, July 15th were given a dividend of $1.73 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $6.92 annualized dividend and a dividend yield of 2.7%. AbbVie’s dividend payout ratio (DPR) is 195.48%.

AbbVie Profile

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.