AMF Tjanstepension AB Has $21.95 Million Holdings in AbbVie Inc. (NYSE:ABBV)

AMF Tjanstepension AB grew its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 177.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 123,511 shares of the company's stock after buying an additional 79,065 shares during the period. AMF Tjanstepension AB's holdings in AbbVie were worth $21,948,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Swedbank AB grew its stake in AbbVie by 0.3% in the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company's stock worth $424,014,000 after acquiring an additional 6,810 shares during the period. Howard Capital Management Group LLC boosted its holdings in shares of AbbVie by 20.3% in the 3rd quarter. Howard Capital Management Group LLC now owns 2,012 shares of the company's stock valued at $397,000 after purchasing an additional 339 shares during the last quarter. Walkner Condon Financial Advisors LLC boosted its holdings in shares of AbbVie by 12.8% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 1,910 shares of the company's stock valued at $377,000 after purchasing an additional 216 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of AbbVie by 12.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,487,363 shares of the company's stock valued at $491,204,000 after purchasing an additional 273,078 shares during the last quarter. Finally, Consolidated Planning Corp boosted its holdings in shares of AbbVie by 12.8% in the 3rd quarter. Consolidated Planning Corp now owns 2,088 shares of the company's stock valued at $412,000 after purchasing an additional 237 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

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AbbVie Trading Up 1.8 %

Shares of ABBV stock traded up $3.80 during trading hours on Friday, reaching $214.55. 6,800,068 shares of the stock traded hands, compared to its average volume of 6,084,956. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $215.66. The business has a fifty day moving average price of $187.63 and a 200 day moving average price of $187.53. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm has a market capitalization of $378.75 billion, a PE ratio of 89.40, a PEG ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter last year, the business posted $2.79 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio is currently 273.33%.

Insider Buying and Selling

In related news, EVP Timothy J. Richmond sold 29,917 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares of the company's stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction 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 sale, the senior vice president now directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 56,439 shares of company stock valued at $11,377,057. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent research reports. Piper Sandler Companies restated an "overweight" rating and set a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Truist Financial lifted their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. cut their price objective on shares of AbbVie from $210.00 to $200.00 and set an "overweight" rating on the stock in a report on Wednesday, November 13th. Citigroup boosted their price objective on shares of AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Finally, Guggenheim boosted their price objective on shares of AbbVie from $212.00 to $214.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $211.45.

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.