Swedbank AB Reduces Stock Position in AbbVie Inc. (NYSE:ABBV)

Swedbank AB trimmed its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 8.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,972,948 shares of the company's stock after selling 174,178 shares during the quarter. Swedbank AB owned approximately 0.11% of AbbVie worth $350,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in ABBV. Strategic Investment Solutions Inc. IL acquired a new position in AbbVie during the second quarter valued at approximately $329,000. Brown Financial Advisors bought a new stake in AbbVie during the second quarter valued at about $724,000. Creekside Partners acquired a new stake in AbbVie in the 2nd quarter valued at approximately $336,000. Clear Rock Advisors LLC increased its position in AbbVie by 2.1% in the 2nd quarter. Clear Rock Advisors LLC now owns 20,348 shares of the company's stock worth $3,490,000 after buying an additional 427 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in shares of AbbVie in the second quarter valued at approximately $68,213,000. Institutional investors own 70.23% of the company's stock.

Insider Transactions 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 transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wolfe Research started coverage on AbbVie in a report on Friday, November 15th. They set an "outperform" rating and a $205.00 price objective on the stock. Leerink Partners upgraded shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 target price on the stock in a research note on Friday, November 22nd. Citigroup dropped their target price on shares of AbbVie from $215.00 to $205.00 and set a "buy" rating for the company in a research report on Tuesday. Daiwa Capital Markets lowered shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Finally, Daiwa America downgraded AbbVie from a "strong-buy" rating to a "hold" rating in a report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, AbbVie has an average rating of "Moderate Buy" and a consensus target price of $205.00.

AbbVie Stock Down 0.2 %

ABBV stock traded down $0.42 during trading on Thursday, reaching $174.84. The stock had a trading volume of 1,881,900 shares, compared to its average volume of 5,739,489. The company has a market capitalization of $308.97 billion, a price-to-earnings ratio of 60.70, a P/E/G ratio of 1.68 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company's 50 day moving average is $176.37 and its two-hundred day moving average is $184.90. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32.

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

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.