AbbVie Inc. (NYSE:ABBV) Shares Purchased by AMF Tjanstepension AB

AMF Tjanstepension AB raised its holdings in AbbVie Inc. (NYSE:ABBV) by 8.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 294,444 shares of the company’s stock after purchasing an additional 22,200 shares during the quarter. AMF Tjanstepension AB’s holdings in AbbVie were worth $53,618,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ABBV. Vermillion & White Wealth Management Group LLC purchased a new position in AbbVie during the fourth quarter worth about $26,000. IFS Advisors LLC purchased a new position in shares of AbbVie during the 1st quarter worth approximately $36,000. Able Wealth Management LLC acquired a new stake in shares of AbbVie in the 4th quarter valued at approximately $33,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of AbbVie in the fourth quarter valued at approximately $37,000. Finally, Clarity Asset Management Inc. acquired a new position in AbbVie during the fourth quarter worth $42,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

AbbVie stock traded up $2.53 during midday trading on Friday, reaching $171.52. 20,843,959 shares of the company were exchanged, compared to its average volume of 5,674,699. The firm’s 50-day simple moving average is $164.60 and its 200-day simple moving average is $167.44. AbbVie Inc. has a 1 year low of $132.13 and a 1 year high of $182.89. The company has a market capitalization of $302.88 billion, a price-to-earnings ratio of 50.90, a P/E/G ratio of 2.19 and a beta of 0.60. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.46 earnings per share. On average, analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent analyst reports. Barclays reduced their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Guggenheim raised their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets lowered their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Thursday, June 20th. Finally, Piper Sandler upped their price target on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, June 18th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $179.64.

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.