Handelsbanken Fonder AB Increases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Handelsbanken Fonder AB lifted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,191,207 shares of the company's stock after purchasing an additional 45,266 shares during the quarter. AbbVie accounts for about 0.8% of Handelsbanken Fonder AB's portfolio, making the stock its 16th largest position. Handelsbanken Fonder AB owned about 0.07% of AbbVie worth $211,677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Atlanta Consulting Group Advisors LLC acquired a new stake in AbbVie during the 3rd quarter worth approximately $999,000. Saturna Capital Corp boosted its position in AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock worth $133,531,000 after buying an additional 560,808 shares during the period. Everence Capital Management Inc. boosted its position 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 position in AbbVie by 9.5% during the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company's stock worth $7,011,000 after buying an additional 3,439 shares during the period. Finally, Avior Wealth Management LLC boosted its position in AbbVie by 23.5% during 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 during the period. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares of the company's stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent research reports. Daiwa Capital Markets downgraded shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 target price on the stock. in a research report on Thursday, December 5th. Morgan Stanley boosted their price target on shares of AbbVie from $224.00 to $239.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Guggenheim boosted their price target on shares of AbbVie from $212.00 to $214.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Bank of America restated a "neutral" rating and issued a $191.00 price target on shares of AbbVie in a research report on Tuesday, December 10th. Finally, Daiwa America downgraded shares of AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Thursday, December 5th. Five 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. According to data from MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and a consensus price target of $208.35.

AbbVie Stock Up 0.6 %

Shares of NYSE ABBV traded up $1.15 during trading on Friday, hitting $202.03. The stock had a trading volume of 5,879,957 shares, compared to its average volume of 5,370,269. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.54. The company has a market capitalization of $356.64 billion, a PE ratio of 84.18, a PEG ratio of 1.61 and a beta of 0.58. The firm has a fifty day moving average of $181.25 and a two-hundred day moving average of $186.41.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the prior year, the business posted $2.79 earnings per share. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is currently 273.33%.

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.