Skandinaviska Enskilda Banken AB publ Lowers Holdings in AbbVie Inc. (NYSE:ABBV)

Skandinaviska Enskilda Banken AB publ lessened its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 26.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 996,157 shares of the company's stock after selling 352,147 shares during the quarter. AbbVie accounts for about 0.8% of Skandinaviska Enskilda Banken AB publ's portfolio, making the stock its 23rd largest holding. Skandinaviska Enskilda Banken AB publ owned about 0.06% of AbbVie worth $175,852,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ABBV. Groupama Asset Managment lifted its holdings in AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock valued at $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie during the 3rd quarter valued at about $28,000. Fiduciary Advisors Inc. purchased a new stake in AbbVie during the 4th quarter valued at about $29,000. Promus Capital LLC purchased a new position in AbbVie in the 4th quarter worth approximately $30,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new position in AbbVie in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Wall Street Analyst Weigh In

ABBV has been the subject of several recent analyst reports. Wolfe Research began coverage on AbbVie in a research note on Friday, November 15th. They set an "outperform" rating and a $205.00 target price for the company. Daiwa Capital Markets downgraded AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price target for the company. in a report on Thursday, December 5th. Leerink Partners upgraded shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price objective for the company in a research note on Friday, November 22nd. Truist Financial lifted their target price on AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Finally, Guggenheim boosted their target price on AbbVie from $212.00 to $214.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $211.45.

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AbbVie Trading Down 0.8 %

Shares of ABBV opened at $211.80 on Thursday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The firm has a 50 day simple moving average of $189.84 and a 200-day simple moving average of $187.89. The stock has a market cap of $373.91 billion, a price-to-earnings ratio of 88.25, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly 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 last year, the firm earned $2.79 EPS. Equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Tuesday, April 15th. AbbVie's dividend payout ratio is presently 273.33%.

Insider Transactions at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin K. Buckbee sold 1,800 shares of the business's 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 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 disclosure for this sale can be found here. Insiders have sold 56,439 shares of company stock worth $11,377,057 over the last quarter. 0.25% of the stock is currently owned by insiders.

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.

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