Alecta Tjanstepension Omsesidigt Makes New Investment in AbbVie Inc. (NYSE:ABBV)

Alecta Tjanstepension Omsesidigt bought a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,048,600 shares of the company's stock, valued at approximately $186,431,000. Alecta Tjanstepension Omsesidigt owned approximately 0.06% of AbbVie at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Groupama Asset Managment lifted its holdings in AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock worth $27,000 after acquiring an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in AbbVie during the third quarter worth about $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie during the fourth quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie during the fourth quarter worth about $31,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of AbbVie in the fourth quarter valued at about $35,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

NYSE ABBV traded up $2.05 during trading on Thursday, reaching $205.06. 5,692,933 shares of the company's stock were exchanged, compared to its average volume of 5,871,798. The business has a 50 day moving average price of $183.75 and a 200-day moving average price of $186.85. The stock has a market capitalization of $362.00 billion, a P/E ratio of 85.44, a PEG ratio of 1.62 and a beta of 0.58. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts' consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same period last year, the company posted $2.79 EPS. Sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's dividend payout ratio is presently 273.33%.

Analyst Ratings Changes

A number of brokerages have recently commented on ABBV. Guggenheim boosted their price target on AbbVie from $212.00 to $214.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Daiwa America lowered AbbVie from a "strong-buy" rating to a "hold" rating in a report on Thursday, December 5th. BMO Capital Markets boosted their price target on AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Argus upgraded AbbVie from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Finally, Piper Sandler boosted their price target on AbbVie from $212.00 to $220.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $208.35.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was 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 owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares of the company's stock, valued at approximately $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company's stock.

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.