Handelsbanken Fonder AB Increases Holdings in AbbVie Inc. (NYSE:ABBV)

Handelsbanken Fonder AB increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,191,207 shares of the company’s stock after purchasing an additional 45,266 shares during the period. AbbVie accounts for 0.8% of Handelsbanken Fonder AB’s investment portfolio, making the stock its 16th largest position. Handelsbanken Fonder AB owned about 0.07% of AbbVie worth $211,677,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of AbbVie in the third quarter worth $999,000. Saturna Capital Corp raised its holdings in shares of AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after acquiring an additional 560,808 shares in the last quarter. Everence Capital Management Inc. boosted its position in shares of AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after acquiring an additional 15,550 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of AbbVie by 9.5% during the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after purchasing an additional 3,439 shares in the last quarter. Finally, Avior Wealth Management LLC increased its position in shares of AbbVie by 23.5% in the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after purchasing an additional 10,768 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were 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 of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is owned by company insiders.

AbbVie Stock Up 0.5 %

Shares of NYSE ABBV opened at $197.30 on Thursday. The firm has a fifty day simple moving average of $179.67 and a two-hundred day simple moving average of $186.11. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm has a market capitalization of $348.66 billion, a PE ratio of 82.21, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the previous year, the business earned $2.79 earnings per share. Equities analysts expect that AbbVie Inc. will post 12.32 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie’s dividend payout ratio is presently 273.33%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ABBV. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research note on Thursday, December 5th. Piper Sandler increased their target price on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Truist Financial increased their price objective on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley upped their target price on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie 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.