AbbVie Inc. (NYSE:ABBV) Stake Boosted by Forsta AP Fonden

Forsta AP Fonden increased its stake in AbbVie Inc. (NYSE:ABBV) by 9.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 452,762 shares of the company’s stock after purchasing an additional 40,000 shares during the quarter. AbbVie makes up 0.7% of Forsta AP Fonden’s investment portfolio, making the stock its 21st largest holding. Forsta AP Fonden’s holdings in AbbVie were worth $89,411,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. AMF Tjanstepension AB lifted its holdings in shares of AbbVie by 8.2% during the 1st quarter. AMF Tjanstepension AB now owns 294,444 shares of the company’s stock valued at $53,618,000 after buying an additional 22,200 shares during the last quarter. Atwater Malick LLC lifted its holdings in shares of AbbVie by 65.6% during the 1st quarter. Atwater Malick LLC now owns 2,764 shares of the company’s stock valued at $503,000 after buying an additional 1,095 shares during the last quarter. Kathmere Capital Management LLC lifted its holdings in shares of AbbVie by 3.2% during the 1st quarter. Kathmere Capital Management LLC now owns 2,269 shares of the company’s stock valued at $413,000 after buying an additional 71 shares during the last quarter. Astoria Portfolio Advisors LLC. lifted its holdings in shares of AbbVie by 1.1% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,265 shares of the company’s stock valued at $1,141,000 after buying an additional 70 shares during the last quarter. Finally, Fidelity D & D Bancorp Inc. lifted its holdings in shares of AbbVie by 2.2% during the 1st quarter. Fidelity D & D Bancorp Inc. now owns 3,426 shares of the company’s stock valued at $624,000 after buying an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the transaction, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ABBV shares. Citigroup lifted their price target on AbbVie from $170.00 to $215.00 and gave the company a “buy” rating in a report on Friday. Barclays upped their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Piper Sandler upped their target price on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. Finally, Sanford C. Bernstein began coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $199.39.

AbbVie Stock Performance

Shares of NYSE ABBV traded down $1.80 during trading hours on Friday, reaching $187.85. The stock had a trading volume of 4,017,525 shares, compared to its average volume of 5,287,914. The business’s fifty day moving average is $194.14 and its two-hundred day moving average is $178.16. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The company has a market cap of $331.72 billion, a price-to-earnings ratio of 55.73, a PEG ratio of 2.66 and a beta of 0.63. AbbVie Inc. has a twelve month low of $135.85 and a twelve month high of $199.95.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same period in the prior year, the company posted $2.91 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, research analysts expect that AbbVie Inc. will post 10.85 EPS for the current 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 of this dividend is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.30%. AbbVie’s dividend payout ratio is currently 183.98%.

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.