Forsta AP Fonden Boosts Position in AbbVie Inc. (NYSE:ABBV)

Forsta AP Fonden boosted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 458,562 shares of the company's stock after buying an additional 5,800 shares during the quarter. AbbVie makes up approximately 0.6% of Forsta AP Fonden's portfolio, making the stock its 24th biggest position. Forsta AP Fonden's holdings in AbbVie were worth $81,486,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Atlanta Consulting Group Advisors LLC acquired a new stake in AbbVie in the third quarter worth $999,000. Saturna Capital Corp grew its stake 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 buying an additional 560,808 shares during the period. Everence Capital Management Inc. raised 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 worth $9,448,000 after buying an additional 15,550 shares during the period. GAMMA Investing LLC boosted its holdings in AbbVie by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company's stock worth $7,011,000 after acquiring an additional 3,439 shares in the last quarter. Finally, Avior Wealth Management LLC grew its stake in AbbVie by 23.5% in the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company's stock valued at $11,169,000 after acquiring an additional 10,768 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 6,983 shares of the company's stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ABBV. Citigroup dropped their price objective on shares of AbbVie from $215.00 to $205.00 and set a "buy" rating on the stock in a research note on Tuesday. Piper Sandler Companies restated an "overweight" rating and issued a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Guggenheim upped their price target on AbbVie from $212.00 to $221.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. UBS Group boosted their price objective on AbbVie from $195.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Finally, Leerink Partnrs raised AbbVie from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $205.00.

AbbVie Trading Up 0.1 %

Shares of NYSE:ABBV traded up $0.15 on Thursday, hitting $175.41. The company had a trading volume of 1,241,937 shares, compared to its average volume of 5,698,836. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The firm has a market capitalization of $309.97 billion, a price-to-earnings ratio of 60.91, a P/E/G ratio of 1.68 and a beta of 0.58. The firm's 50-day simple moving average is $176.37 and its two-hundred day simple moving average is $184.90. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

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

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.