Avanza Fonder AB Buys Shares of 8,443 AbbVie Inc. (NYSE:ABBV)

Avanza Fonder AB acquired a new position in AbbVie Inc. (NYSE:ABBV - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 8,443 shares of the company's stock, valued at approximately $1,500,000.

Other large investors have also recently added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC acquired a new stake in shares of AbbVie in the 3rd quarter worth approximately $999,000. Saturna Capital Corp lifted its position in AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock worth $133,531,000 after purchasing an additional 560,808 shares during the period. Everence Capital Management Inc. boosted its stake in 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 purchasing an additional 15,550 shares in the last quarter. GAMMA Investing LLC increased its position in shares of AbbVie by 9.5% during the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company's stock valued at $7,011,000 after purchasing an additional 3,439 shares during the period. Finally, Avior Wealth Management LLC raised its stake in shares of AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company's stock worth $11,169,000 after buying an additional 10,768 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm'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 value of $310,032.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is owned by company insiders.

AbbVie Stock Down 1.3 %

Shares of NYSE:ABBV traded down $2.21 during midday trading on Friday, hitting $171.49. 7,581,211 shares of the stock were exchanged, compared to its average volume of 4,943,678. The company has a market capitalization of $303.05 billion, a PE ratio of 59.55, a P/E/G ratio of 1.73 and a beta of 0.58. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The business's fifty day simple moving average is $175.78 and its two-hundred day simple moving average is $184.75.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts' consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same period last year, the business earned $2.95 EPS. The business's quarterly revenue was up 3.8% on a year-over-year basis. As a group, research analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This is a positive change from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 annualized dividend and a dividend yield of 3.83%. AbbVie's dividend payout ratio is 215.28%.

Analyst Ratings Changes

Several research analysts recently weighed in on ABBV shares. Wells Fargo & Company raised their target price on AbbVie to $195.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. TD Cowen boosted their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, October 7th. UBS Group raised their target price on shares of AbbVie from $195.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Argus raised AbbVie from a "hold" rating to a "buy" rating in a report on Monday, November 4th. Finally, Truist Financial decreased their target price on AbbVie from $215.00 to $211.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. 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, the stock presently has an average rating of "Moderate Buy" and an average price target of $205.50.

AbbVie Company 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.